Triple top breakout Point & Figure Chart $HUI, Gold Breaks OUT

Market Talk with Piranha: What is a Point and Figure Chart?

Gold hit a 16-month high above $700 per ounce on Friday, boosted by a falling dollar after U.S. data showing a surprise contraction in U.S. non-farm payrolls for the first time in four years.

The August report showing a fall of 4,000 jobs dented the U.S. currency against the euro, making dollar-denominated gold cheaper for overseas investors.

“Paper money eventually returns to its
intrinsic value ---- zero.”
Voltaire ( 1694-1778 )


Gold/XAU Ratio 4.62

Gold Stocks Ready for Breakout

I am very cautious with new positions in September and October because of broad market vulnerability and this possible seasonal weakness. I like AEM, ABX,MDG, RGLD, TGB, GXL,MFN,BVN,SCEY

Gold stocks rally

Gold/XAU Ratio 4.78
As long as current broad market bull continues I will be a buyer of gold stocks that have been the strongest during latest gold stock selloff.

Tonight ends our stay at my second home at Horseshoe Bay--wonderful weekend--but a long 9 hour drive home tomorrow--back to work Tuesday.

Good luck and God Bless your trading.