Gold just taking a break before next run this fall...

Gold went on a great one month run this summer which timed exactly with the cyclical season. Gold stocks then followed and we have seen some massive gains in a lot of stocks we follow including Creso Exploration going from .28 to $1, Kaminak going form $1.50 to $3.20 and several other hot gold plays that have seen steady increases over the last month to month in a half.

This is just the first part of this years run that should see gold push past $1300 for the first time ever this fall. Where it goes it is hard to predict when the yellow metal is making new highs but I would suggest an exhaustion price target of around 1330 -40 area before we see a serious sell-off again. I am not saying that the price won't go higher this fall but I am still expecting an extended gold bull market for years to come, contrary to quite a few analysts opinion's that this is the year that gold goes parabolic and that gold's bull exhaustion peak is close. I just don't buy it and will continue to go with the wall of worry that gold prices seemingly climb every year.

What makes me confident that POG is just resting is the current price level. As long as POG holds $1230, I am confident that the current gold run will continue with $1230 b e very key area to hold over the coming weeks.

Some high quality explorers that I think ave huge potential are KAM, NTR and ATC in the Yukon White Gold District. CXT at .72 is a great entry point after a huge run and FAU at .52 represents another good buy. Let me stress that CXT and FAU are investments that are at the opposite ends of the gold investing spectrum. CXT is an open deposit looking to add millions of ounces and looking for the huge discovery while FAU is a closed deposit with little chance at greatly increasing reserves, but is a fully functional turnkey mining operation that could be in production as early as next spring. The plan is to start up the mine and hopefully add ounces every year that will extend the mine life. Which is a very good possibility although what gives FIRE River gold an advantage is they are in highly prospective area for exploration and discovery. They may not add significant ounces to the Nixon Fork Gold Mine, but if they can make it profitable venture for the coming years then it gives them a good foothold to further explore and make discovery in Alaska.

There are several other stocks that I hold in high esteem and if you want to see what is on my gold watchlist... look no further than my HOT GOLD DISCOVERY Portfolio.

Click here to see what is high on my shopping list.