Comex gold traded as high as $1,338.3 overnight on Nov. 9, when this "flight to safety" investment spiked higher as the Dow Jones Industrial Average plunged 800 points on that short-lived negative reaction to the Trump election victory. Gold set its post-election low of $1,124.3 the Troy ounce on Dec. 15, down 16%. Gold then rebounded by 12.5% to post-election high of $1,264.9 on Feb. 27, a failed test of its 200-day simple moving average.

This correction and recovery was mirrored by shares of VanEck Vectors Gold Miners ETF (GDX) , Barrick Gold (ABX) , Yamana Gold (AUY) , Goldcorp (GG) and Newmont Mining (NEM) with larger measures of volatility.

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Here's a scorecard for Comex gold, the gold miners ETF, and four gold mining stocks.

 

Comex Gold

 

Courtesy of MetaStock Xenith

The weekly chart is neutral with gold futures close below its key weekly moving average of $1,218.5 and its 200-week simple moving average of $1,238.6. Weekly momentum is projected to be flat at 77.13, just below the overbought threshold of 80.00. Buy weakness to my quarterly value level of $1,196.0. Sell strength to my weekly risky level of $1,275.9.

Vectors Gold ETF

 

Courtesy of MetaStock Xenith

The weekly chart is negative with the ETF below its key weekly moving average of $22.95 and below its 200-week simple moving average of $21.99. Weekly momentum is projected to decline to 69.08 after almost testing the overbought threshold of 80.00. Buy weakness to my monthly value level of $20.83. My quarterly pivot is $21.49. Sell strength to my annual risky level of $32.91. This ETF is in correction territory 16.9% below its post-election high of $25.70 set on Nov. 9, and is 14.9% above its post-election low of $18.58 set on Dec. 20.

Barrick Gold

 

Courtesy of MetaStock Xenith

The weekly chart is negative with the stock below its key weekly moving average of $18.23. Weekly momentum is projected to decline to 77.23, declining below the 80.00 overbought threshold. Buy weakness to my annual pivot of $16.68. Sell strength to my weekly risky level of $20.04. The stock is 6.1% below its post-election high of $18.97 set on Feb. 2, and is in bull market territory 29% above its post-election low of $13.81 set on Dec. 15.

Yamana Gold

 

Courtesy of MetaStock Xenith

The weekly chart is negative with the stock below its key weekly moving average of $2.92. Weekly momentum is projected to decline to 39.66 this week below the 80.00 overbought threshold and heading for the oversold threshold of 20.00. Buy weakness to my quarterly value level of $2.27. Sell strength to my weekly risky level of $3.04. The stock is back within the $1 to $3 a share price range making it an "option on survival." The stock is in bear market territory 34.5% below its post-election high of $3.80 set on Nov. 9. The stock is testing its post-election low of $2.46 set on Dec. 20.

Goldcorp

 

Courtesy of MetaStock Xenith

The weekly chart is negative with the stock below its key weekly moving average of $15.52. Weekly momentum is projected to decline to 73.92, falling below the overbought threshold of 80.00. Buy weakness to my quarterly value level of $12.03. Sell strength to my weekly risky level of $17.21. The stock is in correction territory 18% below its post-election high of $17.87 set on Feb. 16. The stock is in bull market territory 23.1% above its post-election low of $11.91 set on Dec. 15.

Newmont Mining

 

Courtesy of MetaStock Xenith

The weekly chart is negative with the stock below its key weekly moving average of $34.92. Weekly momentum is projected to decline to 66.33, after stalling just below the overbought threshold of 80.00. Buy weakness to the 200-week simple moving average of $26.80. Sell strength to my annual pivot of $35.58. The stock is in correction territory 14.3% below its post-election high of $38.40 set on Nov. 9. The stock is 8.9% above its post-election low of $30.19 set on Nov. 14.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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