Gold is breaking out of its triangle formation and a first target at $1,237 is activated. The whole precious metals sector presents itself pretty bullish.
Recommendations:
Swing-traders (if not already long) should wait for any dip towards the apex of the triangle (ca. $1,145). Do not chase these higher prices as long as the stochastic is not embedded. Another potential buying point would be the 50MA ($1,123). But if Gold reacts back to this level the bullish triangle would be destroyed. Definitely continue to hold GDX and GDXJ and trail your 25% stop-loss.
Investors should be patient and wait for renewed weakness in November.