XGB Gold Index is holding strong support and building for a new leg up

Potential Buy Alert


XGD – Gold Sector Index

Index : XGD – Gold Sector Index

Current Price : 4679

Status : On watch for higher lows

Although XGD is not tradable, it is a great index to watch for movements in gold stocks. We see some great support that is holding up price action at 4000 after a washout down to 3250. This is a great sign that gold stocks are slowly coming back into play and the sector is looking for another leg higher. We are not watching individual gold stocks for high probability setups.