Indeed it could also be teetering on the precipice as you say...

Indeed it could also be teetering on the precipice as you say fisho26. That's is why I have allowed for a 7's outcome.

For now, RSI and Slow Stoch is looking like mid July 2012 just before the commencement of the 2 month run up (as shown). I'm going to assume, be hopeful of that or bet on that until 9.70's-9.50's is broken.

If it is the case, then it is a buy around these levels and especially 9.70's.

The alternative outcome is of course negative, bearish, horror and scary talk of 7's, 5's, 3's and 2's as a capital raising is announced and gold tumbles at the same time - The Precipice.