Home   Links   Editorials

Gold: Hopefully, nobody's noticing

Richard Russell
Dow Theory Letters
Aug 5, 2009

August 5, 2009-- Gold -- The P&F chart of GLD (which is a reasonable proxy for gold) is well worth studying. As I write GLD is trading at 94.68. At 95 on the chart GLD will have broken out on the upside. A breakout from this formation would be very bullish and could take gold toward an attack on the highs.

Flash - as I finished this section GLD hit 95.12. This up-to-date chart shows the breakout. The breakout gives us a P&F "count" to 105. August gold closed up 10.90 to 967.50.

Good action, no dramatic surges, just steady quiet rises.

Hopefully, nobody's noticing.


Richard Russell
website: Dow Theory Letters
email: Dow Theory Letters

© Copyright 1958-2014 Dow Theory Letters, Inc.

Richard Russell began publishing Dow Theory Letters in 1958, and he has been writing the Letters ever since (never once having skipped a Letter). Dow Theory Letters is the oldest service continuously written by one person in the business.

He offers a TRIAL (two consecutive up-to-date issues) for $1.00 (same price that was originally charged in 1958). Trials, please one time only. Mail your $1.00 check to: Dow Theory Letters, PO Box 1759, La Jolla, CA 92038 (annual cost of a subscription is $300, tax deductible if ordered through your business).

321gold Ltd