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Gold: Hopefully, nobody's noticingRichard Russell August 5, 2009-- Gold -- The P&F chart of GLD (which is a reasonable proxy for gold) is well worth studying. As I write GLD is trading at 94.68. At 95 on the chart GLD will have broken out on the upside. A breakout from this formation would be very bullish and could take gold toward an attack on the highs. Flash - as I finished this section GLD hit 95.12. This up-to-date chart shows the breakout. The breakout gives us a P&F "count" to 105. August gold closed up 10.90 to 967.50. Good action, no dramatic surges, just steady quiet rises. Hopefully, nobody's noticing.  ### Richard Russell
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