Zero Hedge posted this chart today, purporting to show a golden cross with gold's 50-day moving average moving above gold's 200 day moving average.

Believe me! I want to see this golden cross as much as the next guy, but I just don't see it yet. I tried to duplicate Zero Hedge's chart on stockcharts.com. I'm not a technical analyst, but, to my untrained eye, the 50 dma looks to be now around $1126, and the 200 dma looks to be around $1133.

Having said that, I do appreciate Zero Hedge pointing out inflows of $5.8 billion into precious metals funds over the past three weeks -- the biggest inflows since June 2009. Recall gold's run from 2009 into 2011. Hopefully, continued inflows into gold and the inevitable golden cross will bode well for the price of gold over the next couple years . . . and by extension funding for a certain junior explorer.

With best regards.

Old School