$$ Gold's 65 Week Moving Average and Gann

Since 2001, Gold has not spent any serious time under its 65-week moving average except for about 4 months in latter 2008.  Generally, Gold finds support at its 65-week moving average.  Accordingly, a retreat to the 65-week moving average is usually a great time to buy Gold. 

This week, Gold's 65-week moving average currently sits at $1080.03 and is rising about $5 per week. In addition, my Gann Square of 9 shows an important inflection point at $1088.50 which can also serve as the basis of support. 

We are currently experiencing a correction in Gold from the peak of $1265 in June.  Gold traded as low as $1159.50 today.  If $1132.25 (another Gann inflection point) does not hold, look for Gold to test its 65-week moving average at or near $1088.50.  Should Gold find support there, I will likely initiate a long position.