October Gold is down $5.20 per ounce at $995.00 as I write. The enclosed chart shows that temporarily, at least, gold has run into stiff resistance last week in the $1010 area, the area of major resistance established since February. With today’s small rally in the dollar, it is not surprising to get a small pull back in gold. The longer term trend looks very strong to the upside. I would think that pull backs in gold will be well bought in to. The directional movement indicators are bullish and the ADX line continues to rise. We will stay with all of our long oriented gold positions mentioned yesterday. The October gold options expire in 9 days.

Sep. 15, 2009
David Hall