Our immediate target for December Gold is 736.80, but we didn’t expect it to get there so quickly when we aired the forecast last week with the futures trading in the low 690s.  Rick’s Picks subscribers who joined yesterday’s free Hidden Pivot tutorial session on Webex got to see the bull trend go vertical in real time when, early in the session, the Comex December contract surged more than $8 in a little more than 20 minutes. We were looking at a tick chart at the time, making the action look all the more frenetic.

With the futures midway to what turned out to be their intraday peak, we came up with a 723.40 target in real time, and although that Hidden Pivot resistance was eventually exceeded by 40 cents, it contained yesterday’s move. But not for long, we expect, since the subsequent pullback was relatively shallow, and Gold was giving up ground only grudgingly in early evening trading on Tuesday. The next push should take the December contract to the 736.80 target, and we have provided instructions for leveraging it if and when it is approached.

Precious metal shares were nicely in gear yesterday – so much so that our stingy bid for shares of Yamana Gold went begging. We were looking for the stock to complete a downtrend to 10.88 off an 11.33 close, but the stock bolted out of the gate, gapping to 11.50 on the opening bar and never trading lower than 11.37 intraday.  Newmont performed with equal aplomb, with a nearly 3 percent rise, and Goldcorp did even better, with a gain of nearly 4 percent. We expect the miners to continue to rise in sync with metal quotes, but if you’re interested in precise targets for some of the most widely watched bullion stocks, tune to the Rick’s Picks chat room intraday.