Gold up 5% this week
Gold has been a sensational trade so far in 2016 and it continued to climb on Friday, gaining $18 to $1173.
The 4.9% rally this week is the largest since July 2013 and gold is now within striking distance of the October highs.
Fundamentally, the market is unwinding all the Oct Fed hawkishness but if the Oct high and long-term downtrends give way, the upside for gold bugs (who are an endangered species these days) could be tremendous.
I've been in a small gold long since Jan 19. I wish I'd have made it bigger.
