I refuse to be deceived by the recent "strength" in Gold. I contend that a great portion of this "strength" lies with nervous shorts and those "dip buyers" late to the latest Gold Rally. Gold [and Silver] are seasonally weak in October, and I don't think this October is going to be much different. Bear in mind that this October is ONLY one week old, and there are three and a half weeks left.
Internal indicators RSI and MACD clearly indicate a loss of momentum, and I suspect that dem Rat Bastids are baiting a trap for the Bulls. Whether or not they will be successful remains to be seen, but don't be surprised if the Gold Bugs get sucker punched be the Vermin of the Comex as October options expiration's arrive on the 19th. Just something to be wary of.
Gold and Silver will most likely get reacquainted with their respective 50 day moving averages before we move to new highs in both metals late this Fall. An assault by the Comex Vermin will be quick and ruthless, be prepared to jump in quickly when opportunity knocks. I expect to be fully invested in Precious metals again shortly after Halloween.