Below is a chart and excerpt from Warren Bevan's article, "The Catalysts are Finally Here and Now" http://www.kitco.com/ind/Bevan/jul28... , illustrating a very bullish picture for gold.

The PPT manipulation machine is creating nothing but a slowly waning disturbance, as being clearly demonstrated today, for a financial system suffering from fiat accomplis, soon meeting an inevitable and obvious conclusion.

I see light at the end of the tunnel for goldbugs that stay focused and don't get squeezed, as difficult a task it may seem at times like these.

Keep the faith!!!

BD1

It has been quite a couple of weeks of downside volatility. The price has dropped some $70 from the peak of the last run to $990. The green line depicts the major battle area for $1,000. While it is $990 instead of $1,000 it does represent that milestone. Therefore we have had our second test of the $1,000 according to this chart.

As usual the price dropped violently and scared many people into questioning both the direction of the market and their sanity. Nothing has changed as gold continues to work perfectly towards ever-increasing higher prices.

The drop brought gold to a significant Fibonacci supportlevel and it looks to have bottomed there. This level also happens to coincide with the 50 day moving average as well as the short term uptrend line depicted in orange.

The moving averages are mixed but with the 25 day above the 100 and the 50 day close to moving above the 100 we are posturing for a very strong move up which coincides with everything else mentioned about this particular chart. RSI is above 50 which is bullish, MACD crossed over bearishly but seems to be turning back up here and can still maintain its uptrend line. Slow STO is at 20 which in the past has led to very nice price increases. Please, if you find yourself panicking then you are not meant to be in this market. Everything in this chart is constructive and very healthy. We may violate support but chances are it will just be a bear trap so stay focused on that thought and take advantage of it.