Gold's Next Stop: $1,275

Since breaking above $1240, gold has gone back into churning mode. The fact that gold continues to make higherlows and is holding its support levels, we expect it to break out to theupside.

The next level we expect to seeis $1,275 as gold looks prepared to go into an extended rally. All signs pointto gold breaking out, which could create an extended bull market. The metals ingeneral gave held up well through the turbulence of equities and interestrates.

Quietly, gold is being bought onevery dip; the shorts are getting nervous. Our expectations are simple -- thenext push through $1,240 will give gold a quick run to $1,275 as the shorts getsqueezed. This could be the birth of a long-term bull market.

By Todd 'Bubba' Horwitz

Contributing tokitco.com

Follow @Bubba_TradingBubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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