Not sure about that breakfast HL!!! I have prepared some...

Not sure about that breakfast HL!!!

I have prepared some comments again today:

Following on from my brief notes yesterday, in my view there are two important points to make on the gold market this morning.

Firstly – I think it is the first time in this cycle that Wall Street has had a major correction and gold has not sold off as well.

Secondly, the US dollar was stronger overnight, just nudging through its downtrend. Here again, normally gold would have fallen sharply with the strength of the US dollar.

It is noteworthy that we are starting to see a few positive points beginning to build which keeps alive the possibility that we have seen the worst of the correction in gold.

Our gold index (XGD) closed right on its downtrend yesterday. Would like to see that broken clearly today.