Notice in the chart how Gold’s strong thrust from mid-January’s lows has surpassed three prior peaks, two of them external, without taking a breather. Although the peak recorded on Friday exceeded last July’s 1005.30 high by just $2.40, that’s enough to refresh the bullish trend, as well as our confidence that higher prices are coming. For the moment, we’ll continue to use the Hidden Pivot at 1025.20 as a minimum upside projection for the very near term, but also as a telltale when it is hit to help us gauge the strength of the uptrend. ______ UPDATE: Gold has gotten shaken down hard today, catalyzed by the latest drivel from Helicopter Ben. My downside target was 968.10, as posted earlier in “Today’s Action,” but the selling so far has pushed the futures down as low as 960.20. We had expected the Powers That Be to take a whack at gold when it poked above $1000, but it appears that They have temporarily succeeded in quelling the bullion insurrection with just a few well-timed words about inflation pressures “easing”. We call that deflation.