Chart of the Day: Gold

The chart below shows today's breakout in gold prices. The pink line represents what had been resistance around the $1435 level. But that level was broken today in convincing fashion. As long as the dollar remains weak, gold prices should remain firm. But I do worry that at some point, when the Fed starts to raise rates, that late-to-the-party gold bulls could be in for a world of hurt. We just aren't there yet. long GLD