Gold Prices Rising - October 17, 2013 - Buy NUGT

The price of Gold is rising 2% to 1306 this morning as Government signs a bill to end of Gov't shutdown and increase the debt ceiling.  At the start of 2014, we will be back in the same situation as the last two weeks.

Gold recently bottomed at 1251 and has made a higher low from 1179 back in July 2013.  Gold will have support at the 10 day moving average located at 1296.  If we see Gold hold this 2% move today and advance on Friday, we could be seeing the start of a break out.

How to play the rise in Gold?  I would buy NUGT.  NUGT is the 3x Long Gold Miners ETF and usually has big moves but the key is being on the right side of the trade.  If you are bearish on Gold here, buy DUST.  Always keep tight stop loss orders!!!

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