"...GOLD ON VERGE OF BREAKOUT
The gold price leads the precious metals. Simultaneous with the US$ weakness, the gold price has lifted above the May high. No resistance exists between the 950-960 ribbon and the all-time 1030 high registered in March. The retest of the May low has been successful. Its price now stands just shy of 950 late on Wednesday. Notice the 200-day moving average held in support, guiding FOREX traders. A powerful reversal seems evident as a bowl-shaped pattern. A sharp uptrend in the MACD is also clear in the cyclical index. In my view, the fundamentals are present for a triumphant challenge of the 1000 mark. When 1000 is indeed broken, look for a powerful breakout to at least reach 1100, and probably shoot up to 1200 quickly. Recall that we are still in the slow gold season, so prepare for something very big during the typically strong season..."