Gold at the best levels since early November

Gold is up $12 today as it breaks higher from a minor consolidation phase in the largest gain of the month.

Gold has been in a steady uptrend since the start of the year in part due to worries about changes at the Treasury and general political instability.

Technically, the break is up against the closing low in October at the moment, a level I consider minor resistance. Next is the 200-day moving average at $1262. Again, I don't see that as a level that's going to be a big hurdle.

In the bigger picture, the $1300 zone looks awfully appetizing.