Roundup: "The Guy Bagging My Groceries Just Told Me That Gold Broke Out To New Highs and That The Dollar is Finished" (GLD; IAU)

That headline is in the running for the prestigious Climateer "Line of the Day" award. It's from Singer$Market:

I have to admit that on the Daily charts, GOLD looks extremely likely to continue higher.

On the long term charts, it is in a strong sustained uptrend.

The sentiment situation seems out of whack and skewed to the upside.

The good thing is that you can be long with a defined stop loss somewhere around the $1000 level.

Sentiment Alerts:

Last night on CNN they told me that the dollar was finished and that GOLD was at new highs.

Today on Bloomberg, literally everyone and their mother was quoted as calling for GOLD higher....CHARTS

Here are some of the gold stories we've put in the link-vault this week:
From Bespoke-

Gold Analysts Are Far From Gold Bugs

...This isn't to say that there aren't analysts expecting gold to be higher than it is now in the coming years, but the collective estimate is currently for the metal to head lower.

From Bloomberg:

Gold, ‘Off The Charts’, May Target $1,500: Technical Analysis
And
Gold Will Keep Advancing After Reaching Record, Survey Shows

From MarketWatch:

Commentary: Average gold timer almost completely out of the market

From Mineweb:

Gold more likely to fall below $950 than stay above $1,000 in the next six months

From FT Alphaville:

Gold ETFs, caveat emptor
Of gold coin craziness and conspiracy

Finally, The Definitive Gold ETF Guide: Gold Bullion ETFs 101

Just a quick note, we are not fans of the shiny stuff. If it is moving because of inflation there are better ways to profit. If it is moving because of a 'safe-haven' needs there are better ways to preserve. If it is moving due to social apocalypse you are better off with lead.