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Buzz & Banter



Gold and silver both surging higher this morning, gold spot prices to 370 and change, which is an upside break of the triangle I mentioned yesterday.

The Dec. gold futures contract has also broken out (see chart below). The May high is 374 with the January high at 386 the real test. A move through the January high, if it were to occur, would shake the faith of even the most grizzly gold bears.

Interestingly, the dollar is relatively flat this morning and this move, so far, does not look related.

Position in Dec. gold.

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