Apologies if this was posted earlier as I am just getting caught up on my reading from last weekend.

I criticized Clive earlier when he bailed and said to sell everything so now I will praise him when he says to buy back in. He thinks gold will move soon and silver will lag because of sentiment. I guess the sentiment is thanks to JPMorgan's takedown. Mike

http://www.clivemaund.com/article.php?art_id=68

"The past week has seen the convergence of a variety of factors that together point to a powerful rally in gold soon. Thus it appears that we have been too cautious in the recent past. Little harm has been done, however, as gold has yet to break out of its downtrend and Precious Metals stocks have advanced but little, compared to what may be coming soon, although it would obviously have been ideal to get in on last Monday`s reaction following the preceding Friday's clear bull hammer in gold, silver and in many stocks. "

"If gold now looks like it is going up, how does the rest of the sector look? You may remember that a big reason for our cautious stance in the recent past were the rather awful looking charts for silver and the PM stock indices. While we take a look at silver in the parallel Silver Market update, it is worth pointing out here that silver is on the point of breaking out of its severe downtrend, although it does look like it will probably need some more time for sentiment to recover before a major advance can get underway, and silver's COT chart has improved vastly over the past several weeks. "

"The latest COT chart shows that the Commercial short overhang, which has helped to force gold lower over many weeks, is now easing dramatically, opening the door to renewed advance. You may recall that we used analysis of the Commercial short position to predict the vicious plunge in copper prices of this month days before it started and also to call this week's strong rally in copper in an aside in the last Gold Market update. "