Gold Chart

Comments: I just returned from an unexpected business trip to Nigeria, hence the lack of updates recently. The above chart shows that Gold has been creating a channel with some obvious buy and sell points. The HUI seems overbought in the short term, but it is now consolidating for a couple of days. My exposure remains 31% and I think I sold a bit too early. Hopefully I'll be able to get back on board with at somewhat lower prices, though it's unclear where we are going next in Gold. The COT report remains bearish in my opinion.

On a side note, an interesting article about a company (Nautilus Minerals Inc.) listed on the Vancouver exchange that will be trying to prospect for metals below the ocean.