Along with everyone with an interest in holding gold or gold related items, I would like to see the metal much higher. Aside from my position in Probe, that will remain unchanged regardless of general market conditions. Along with that attitude, I continue and will continue to buy low mintage proof gold coins when funds are available.

What concerns me at the moment is that the 250 day moving average(1509.34) on the weekly gold chart(http://www.stockcharts.com) is descending lower towards the flat moving 1000 day average(1475.57). If the more volatile 250 day average average in the weeks ahead breaks below the slower 1000 day average we will witness a "death cross." This death cross could possibly put gold on the skids, again. I looked at the declining trend channel on the weekly gold chart where its price activity is currently contained and it has been determined it is possible for the metal to trade as low as 1050 if weakness ensues following the event of a possible death cross.

Of course the Probe chart is in much better technical shape than gold's at the moment with its registering a daily golden cross some weeks back which should continue to buffer it some against any mind sets that might want to throw in the towel if weakness develops in the gold market in the weeks ahead. Let's hope Dave systematically releases positive news in the event of any possible general weakness in our sector. What would really be nice is if gold turns higher and these concerns never come about to bare any bitter fruit.