GCQ09 – Comex August Gold (Last:939.30)

Gold popped a dime above a 959.90 rally target we were using, implying that the next thrust should carry to 966.50, the first minor Hidden Pivot resistance above it. Please note in the accompanying chart that just a smidgen more than that — specifically, 966.80 — would be needed to kick the buying spree into a higher gear. ______ UPDATE (11:15 a.m. EDT): Gold is getting whacked gratuitously today, with the August contract down more than $14.  The actual low is 939.10, a precise midpoint support that if broken will imply more downside to as low as 932.90 over the near term.