Okay I've been a gold bug for many years, both to my benefit and detriment... I try to treat it in a more detached way, but there's just something about it...
So all bias aside, the chart does look like it is breaking out. Check out the weekly chart... it is the 3rd attempt at $1,000 since early 2008, all MAs are moving up , it is not overbought on RSI, and best of all it looks like a long cup and handle formation which is one of the most reliable. A year after the crash, a long awaited breakout may be happening now.
But it is hard to find many stocks that haven't already moved up lately. Not to say they won't continue but I prefer bargains... The only one I bought this week was VEN-T Ventana Gold, who seem to have found a potential elephant in Colombia. It has already had a great run from a 52 week low of 4 cents to today's close of 5.80... yes quite an amazing move... I bought at 5.52 after they had more impressive results, but mainly as the chart has been consolidating in the $5-6 area and looks like it is ready for it's next move. But I am playing this as a momentum play, and have put in a tight stop at 5.29, so quite likely I will get tossed out unless this is the breakout. If so I will step back and monitor.
There are many good gold/silver juniors, some I own include LMA-T, MMM-T, FVI-V... am holding but not buying as they are up a fair bit lately. Once gold breaks $1000 and stays there (like maybe next week...) all gold stocks can be good things to hold onto.
For less risk you can buy bullion or an EFT that tracks it... or HGU-T which attempts to doubles it's move up.
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