If you recall, back in December on CNBC I said that gold will have the chance to make a major move higher. After retesting the high and turning back down, a double top formation was put in place. Gold has since consolidated and seems poised to make another run back to the high near $1,000 an ounce.
In that same interview, I also stated that for gold to make a real move higher, the gold play would have to go from the safety trade to the real inflation trade.
Gold is now back on our radar. We will to add to our position through $955/oz. and then, if the right scenario develops and the double top breaks, this commodity could have a major run higher back to our projection of $1,200-$1,500/oz.