Weekend Update Gold 636.80

It is interesting to see how sensitive the price of gold is to what I will call "touch points". Friday's close of 636.80 is within pennys of the two touch point lows made last week. Another touch point area above lies a 674.50 - .80. For now 618.35 could be the next touch point for a continued move downward or a test and rally.




Trend line study indicates further down...












Clive, looking for a rally and then more down on the price of gold while the HUI looks promising.
http://www.safehaven.com/article-5297.htm







Finally, this Ratio chart illustrates this years buying opportunity.

Trades, this week: bot GSS 3.09, holding others have 45% cash.

Have a great weekend and thanks for looking.
JC