Here is a link to a chart I use. From this chart you can see that the 200DMA has been a reliable indicator of the support levels for the price of gold since it bottomed around FEB '01.
Lot's of buying power at the 200 DMA and note that it hasn't really dipped below this indicator except in April this year which I attribute to the Iraqi war.
Today the 200DMA lies at $341 and this level keeps moving higher as time progresses. Gold companies who are unhedged are going to benefit greatly over time as this is definitely a bull market in gold, I think that we wont see gold back to $300 for years to come so decide yourself and invest wisely. I am 100% in gold but trade in and out. My short term opinion is that next week will see another decent rise in gold to around $355 min.
