Gold is rising as part of the general risk-on mood in markets. There are idiosyncratic reasons not to be long the EUR or GBP against the USD — potential for further Greek/PIIGS problems and the looming UK election — so gold is not a bad currency to use. The market has broken out of its 2010 trading range and re-tested the breakout, and I have taken the opportunity to get in. Short-term chart, from IG Index, shows the stop position (entry price is price shown). Long-term chart, from TradeStation, shows the breakout level.

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