Maybe, maybe not, but I’m starting to smell a bottom. The miners are showing great relative strength. Amarillo Gold up over 30% today, Argonaut Gold up 7%, Liberty Gold up 6%, Marathon Gold 3.5%, Barkerville Gold 3%, Americas Silver 2.75%, and many others up, despite gold testing support. I think they’re sensing what’s coming. Gold has arrived at strong support in the $1240 region in an unloved, oversold state, at a cyclical turning point. Also at a cyclical turning point is the dollar, once again testing 95 after a good run up. Are we going to see a break below golds critical support and a very scary plunge to the $1200 area. It wouldn’t surprise me, who knows ? What’s important is we’re about to benefit from a cyclical upturn for PM’s for the next few months (in my opinion).

I was tempted to put a load of indicators on these charts to show how low the readings are for gold and how high they are for the dollar, but opted for the clean, simple, bare facts. Good luck all.