Gold and miners started the morning higher, and prices may be trying to break higher form their potential bull flags. Upside follow-through tomorrow would register the onset of the next advance and an end to the 2-week consolidation.
-GLD- Prices are testing the upper flag boundary in GLD. A close above 134.10 would support a breakout. In spot gold, I’d like to see prices finish above $1425 within the next few days (currently $1416) to recommend more upside.
-GDX- Miners gapped higher at the open and prices are approaching the June high. Closing above $26.25 would favor an upward breakout from the potential bull flag.
-GDXJ- Juniors need to close above $36.00 to recommend a bull flag breakout.