As I've noted in recent posts, I believe we've seen the long term low for gold. The signs are many. Gold is now making higher highs. The down trend line from March has been broken. The 50 DMA has turned up and crossed above the 200 DMA and the 200 DMA has turned marginally higher.
All that is well and good but I'm more interested in mining stocks at this time. The weekly chart of GDX shows the ETF has solidly regained the 06/07 consolidation zone and the rally is coming on gigantic weekly volume.
On a daily basis the GDX has just broken out of a pennant continuation pattern, again on huge volume.
All that being said, I think there is a much better place to be than gold or gold miners. The complete analysis is in this weekend's report for subscribers.