Gold Futures (Fri. close $634.80 U.S.)

As is the case with many metal commodities, Gold is unwinding a huge price spike which occurred in the first quarter of 2006. Short term models continue to regain strength with the share price having successfully tested support at the 100-Day Moving Average ($616 area).

I continue to anticipate a choppy trading pattern as the spike digestion plays itself out. The underlying intermediate term price trend remains strong.