I see gold in a little different short term light:

Following a good short term burst, gold has been consolidating with a lower emphasis lately. In the past three of the last four trading days the metal has bounced off the important 200 day moving average line in the 1154 t0 1155 area. A pertinent question considering these days is, will gold hold its 200 day average? Some important senior golds are also above their 200 days with their MACD convergence averages tending to turn lower BUT not yet. In the case of gold, its MACD lead moving average has now turned down, usually a sign that it will continue lower.

It's show time for gold in the next few days. Let's hope for the short term, with Probe shareholders in mind, that the 200 day line buyers know what they were doing and continue to buy thus helping to support a higher share price for GoldCorp. If not, well, maybe a surprise interested company appears on the scene with a higher offer for our Borden gold property. Something has to start working for our patient group following the low-ball $5 offer in exchange for our future.