Update. Gold. December 6, 2010.

In previous post  I had said that gold could be developing a technical formation know as Shoulder Head Shoulder. It resolution is generally bearish. Showed signs of a possible significant correction in the gold price, today in a upward rally.

However, the right shoulder has taken a long time to complete and has reached very high prices. In such a way that training is no longer valid.

With this "break" of the SHS training the uptrend is strengthened. Will reach the $1,500? Some think so. That would be 6% above its current level, in line with the likely rise in the SPX.

Exceeding the $ 1,425 level, we can say that gold is back to rally.

Is gold the new bubble?

The next ETF's follows the price of gold:

- IShares IAU

- SPDR GLD

Although there are many more alternatives to invest in gold. Even to have it physically, under your own custody.

Gold IAU GLD iShares SPDR