XAU closed at 81.92 UP 2.39

Below is a link to the daily XAU chart.

The XAU Index broke above a right ascending triangle formation the middle of this month. The formation formed during November, December and part of January. The bottom point is near 61 or so with the line of the horizonal top at 75. When prices break above the horizonal line the minimum expected move is double the diifference from of these two points. 75 minus 61 times 2 equals an minimum expected move to the 103 level. This would result in a 37+% move from the 75 break-out-point. Aside from opinion, including mine concerning gold continuing to be in an intermediate lower trend, the probabilities support a continuing higher price for this Index which will only be supoorted by increased values for the gold and silver shares.

http://stockcharts.com/h-sc/ui?s=%24xau