You can see the breakout in this 2 year long weekly bar chart
The HUI (Amex Gold Bug Index) is still above its 7 week long uptrend line.
This can be seen in this 6 month HUI chart
Related to the Baltic Freight Dry Index is lumber prices in the US. Since the US stock markets topped out, the US housing industry has been a major factor in keeping the US economy from plunging. It looks like that factor is weakening.
Take a look at this US lumber futures contract that made a new 3 1/2 month low on Friday
It looks like US lumber put in a longer term double top the middle of last year.
This can be seen in this 2 year long weekly bar chart
What does the US Treasury and the Fed have a solid history of doing when the US economy is threatened in some way? They create USD out of thin air by hook or by crook. Sellers of gold then demand even more per ounce of these newly devalued USD.
"Hunter S Thompson said his beat was the death of the American dream. You can see why he ate his gun. Everything he hated has returned. Nixon is back in the White House, Rumsnamara risen from the dead, bombs falling on other peoples’ suburbs. The Pentagon is lying again and democracy stalks yet another helpless country. This time the young are already dead and there will be no joyous anarchy. The press, housebroken, pees where it is told. But he gave it a hell of a try."