Mostly: Classical

[ItsAllCyclical]

Between India, Isreal, N. Korea, Iran and Iraq gold certainly has it's share of geo-political catalysts of late. Typically the shares lag during such moves so I'm apprehensive about chasing here. Also gold and the Dollar rallying together right now which hasn't been the case of late so another reason to be wary at least ST. I think yesterday and today are creating a false breakout, but as always HUI action will tell the tale more than gold.

Latest on Isreal:

http://www.cnn.com/2006/WORLD/meast/07/12/mideast/index.html

I guess the premise on yesterday's run was that since India is the world's biggest buyer of gold and the attack happened on their soil that gold buying will be further increased. I think it's somewhat faulty or short lived since they buy for different reasons, but we'll see.