The chart below is a warning sign. Fro a rally to be sustainable volume must always go with it. It is the volume that drives the price, not the other way around. The chart clearly shows volume drying up this month as the price moved into the $1245 area, near strong short term resistance. The there was that very strange and suspicious 5 minute flash crash, which will only be deciphered over the next few days. If the volume doesn’t pick up tonight then we may see a minor top.
In the meantime I have been looking at some gold juniors that have missed the ride up as they are just cutting even in the depressed gold price. If we get a break above $1268 we will have a confirmed long term up-trend in place and I may enter positions in them.