24hgold - The impending gold breakout has been so long in the making that it has engendered a "we'll believe it when we see it" mentality amongst most market participants. What this means of course is that most will miss out on the big easy gains that will accrue during the dynamic phase of the next major uptrend and will turn up late at the party, as usual.

The key point to grasp here is that this rally is going to be BIG. The major consolidation in gold has been going on for about 19 months now, so gold has built up a tremendous amount of energy for its next move. This is the 5th attempt to break above the March 2008 high, the other 4 attempts, after March 2008 itself, occurring in July 2008, February and May of this year, and the attempt now in progress. Thus it should be quite clear that once gold breaks clear above the MAJOR RESISTANCE at this level, it is not going to settle for some pitiful $50 - $100 gain - it is going up at least $300 and very possibly of the order of $500 - $600 and this gain should be achieved in short order over the space of three to six months or so.

(click chart to enlarge)




To conclude, gold is in position to embark on a major uptrend here that is expected to result in it tacking on a 30% - 60% gain in the space of about 6 months.