From MarketWatch.com:
It wasn’t really very much — gold measured by the floor close of the CME August gold contract ended the week up $35.2 or 2.22% — but it’s really got people excited.
Particularly chartists. On Thursday, MarketWatch’s Mike Paulenoff asked “Is gold set to accelerate higher?” At Market Trend Forecast, David Bannister asked “Is Gold Ready To Run To All Time Highs?”
And Pring Weekly InfoMovie Report’s Martin Pring observed of the iPath DJ-UBS Precious Metals Subindex Total Return ETN (JJP): “Quiet action in the precious metals again suggests a big move might be afoot. The two trendline benchmarks are at $85.50 and $82.25. Momentum has gone absolutely and very uncharacteristically flat.”