Step Function

Bergman: "Where's the gold?"
Joe Moore: "In the heart of the pure."
--Heist

Pretty chart for the gold proxy GLD as the yellow metal bolted higher for another all time high today. The 'cause' was an announcement that India bought about 1/2 of the IMF's bullion held for sale in a private transaction.


Textbook stairstep pattern since July. Note the volume spikes each time price fires higher.

Unfortunately, my feel for gold prices over the past few months has been awful. TD counts on many time frames continue to suggest trend exhaustion, however.

But perhaps this is The Big One.

position in gold