In the latest issue of the Aden Forecast, which came in Tuesday night, Mary Anne and Pamela Aden summarized their long-standing fundamental and inflationist arguments for gold.

But they added in chart-speak: "Now that gold has broken into record high ground, above $1,218 on a close, it could jump up to $1,300 or higher, to possibly the top of the channel during the current rise. Gold's leading indicator has jumped up, and it has room to rise further. This tells us that gold is headed higher. The long-term indicator backs this up. ... It's signaling that the rise we call 'C' is still ongoing on a bigger-picture basis. That is, the rise since November 2008 is still under way, in spite of its already 73% gain from $705 to $1,220 today."

Dow Theory Letters' Richard Russell, a friend of the Adens, doesn't even bother with these details.

He says flatly: "Do not trade your gold or gold shares. The third phase for gold lies ahead. The central banks do not want to see a new high in the price of gold, and they will do anything they can to keep the price of gold down. But the primary trend of gold is more powerful than all the world's central banks taken together."

"There is nothing more powerful than an idea whose time has come. The idea -- gold is the only money that's safe from the world's clueless governments, and their obsession to escape a recession or a depression."