The gold markets went back and forth during the course of the week, as
we continue to meander around the $1250 level. With that, it appears
that the market simply has no real direction at the moment, and as a
result we are on the sidelines. Nonetheless, we believe that the market
will ultimately bounce from somewhere near here or just below, so we are
looking for supportive candles in order to start buying. The US Dollar
Index looks a little on the weak side at the moment, and as a result we
could see gold rise if the US dollar depreciates a bit.