Bring On the Bull---Lets be real about inflation (circa 1665)

The Bull is back. While the market has moved remarkably little of late, we have gotten some trading action that I believe indicates that we are going to go higher. Volatility based on day to day price movements has been remarkably low. Option volatility is at 3 year lows. Despite this, we tested the bottom of the range that we had been trading in. Gold traded down to 1620 earlier this week, but was unable to take out that low in Wednesday's fast flying market. Yesterday (thursday) June Gold settled at 1660.5, breaking a key downtrend. Today, we saw bullish follow through making a high of 1668.4. The next target is in the 1680 range. We failed to breakdown despite generally bearish sentiment, and the trading since has been technically bullish.

Have a Great weekend

Ben