Gold is in a new uptrend with a 3.5 month high and the GDXJ is also on a nice uptrend. Now I do expect both to consolidate here after this break out, however, this latest move upwards is significant as it comes early and with volume. We may finally be at the end of this brutal period and could be looking at a very profitable next 3-6 months. The timing of GNH resuming drilling could not come at a better time. It was interesting that we saw no sales today. That to me means that we are out of sellers at these prices and the next move will be up.

Here are a few charts to look at:

http://www.kitco.com/charts/techcharts_gold.html

http://stockcharts.com/h-sc/ui?s=GDXJ

Now, James Franklin, point us in the right direction!

G.