Gold is close to giving a "sell" signal. The daily MACD is still above the Zero line. A break below that would confirm.On the positive side, the MACD Histogram is showing a positive divergence from the price chart, so there is still some chance that the price of gold will recover.
All these "signals" are all dependent on your reason for buying the stock. This is one of the reasons why I always say - make up your own mind. This is only my view of things.
If, for instance, you've bought the Gold ETF as a hedge against a fall in the Australian market as measured by the XAO - then the Gold ETF is still a way from giving a "sell" signal.
See the top chart. This is a ratio chart of Gold:XAO. Gold is performing better than the XAO according to this chart - so is still performing its function as a "hedge". A signal here would be given under different circumstances, e.g., a break below the recent low. Or a break by the 13DSMA below the 55DSMA.
So - you always have to make your own decisions. The above information might assist - and you may have your own view on things - but it all comes down, in the end, to you making your decision based on your view of the current situation and your goals.
May the financial Gods smile upon you.
Cheers
Red
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