This week's Gold breakout stands a good chance of gaining further traction going forward because the Dow has breached an important technical support level, not to mention US financials are also taking a turn for the worse (see Dan Norcini's charts published Saturday at jsmineset.com). I believe these significant macro developments are having a measured effect on the portion of major PFs allocated to PMs (eg. Don Coxe says buy Gold), so it comes as no surprise & is no coincidence that large blocks of ECU shares crossed this week and more importantly that ECU's share price is also steadily gaining traction. Overall I think this renewed trickle into PMs is just the tip of the iceberg and marks the beginning of the next large wave up that we've been waiting for so long, compliments of too much persistent rot in the system that is finally starting to scare capital into Gold & Silver. An interesting article and food for thought.

http://www.gold-eagle.com/editorials...

BREAK-DOW!

They say that pictures speak a thousand words, so let’s start this with a picture:

Today, the Dow crashed through its eight-year support level at 11,750. There isn’t much below now to keep it from dropping all the way back down to the 7,500-range. What that will do to American investor psychology and worse, consumer confidence, and therefore spending, and therefore the economy, is only too apparent.

The gold-attack on Monday obviously didn’t take. Gold recovered the following day and powered up by $26 the very next day to close in NY at $911. On Friday, gold confirmed its breakout, which means there will be little holding it back - just like there is now very little that’s holding the Dow up.