Gold stages a breaout.

Gold has resumed its rise. The critical price was a close above 1162/oz. That has now happened. Here is the breakout graph off GG, which I chose as a good pattern to indicate the breakout.The breakout is on large volume.

Not all is classically clear though. Europeans are buying dollars as the Euro fades as sovereign debt is eating national treasuries in Greece. Next will come Spain and Portugal.

I have recalculated an estimated high for gold and my numbers fall between $1700-$1900/oz. Oil moves between $87-$82/barrel and will stay up as long as he dollar maintains its value.Silver is slow.