Category Archives: XAU

Gold Stock Indicator: November 4, 2014

Since our October 17, 2014 posting, the price of the SPDR Gold Shares (GLD) has declined –5.69% while the Philadelphia Gold and Silver Stock Index (XAU) has declined –16.52%.


Gold Stock Indicator: September 19, 2014

Gold as represented by the SPDR Gold shares (GLD) and gold stocks as represented by the Philadelphia Gold and Silver Stock Index (XAU) have declined –1.48% and –5.42%, respectively.


Gold and gold stocks are getting decimated in the latest decline.  Our Gold Stock Indicator (GSI) is getting very interesting.  Below are the GSI for the Philadelphia Gold and Silver Index  (XAU) compared to the Barron’s Gold Mining Index (BGMI).

Gold Stock Indicator: August 8, 2014

Gold and precious metal stocks continue their long road to nowhere with a minor increase of +1.32% in the SPDR Gold Share (GLD) during the last week.


Gold Stock Indicator: June 20, 2014

Gold and gold stock continued to climb higher in the last week.  The gold ETF (GLD) rose +2.90% in the last five days while the gold stock index (XAU) rose +6%.


The Gold Stock Indicator for the same period shows the critical levels that need to be exceeded on the upside.

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Review: XAU Speed Resistance Lines

In our very first attempt at understanding Edson Gould’s Speed Resistance Lines, when the Philadelphia Gold and Silver Stock Index (XAU) was within 6 trading days of the top (found here), we said the following:

“Based on the most recent high of 228.95 the downside target for the XAU index is 76.32. We recommend that whenever the XAU index falls at or below the speed resistance line drawn on the chart, between now and just before 2028, as part of the secular rising trend in interest rates/inflation, we would expect that the stocks in the index are underpriced. Confirmation of fair values should be determined for possible speculative positions at these times.”

An updated chart of the Philadelphia Gold and Silver Stock Index with Speed Resistance Lines is below:

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