The action today only served to increase my confidence that the double-bottom in gold of yesterday and Wednesday was the selling crescendo of the correction. Silver looks good, too, as you can clearly see a reverse head-and-should bottom on the chart below. Barring financial or biblical armageddon over the weekend, I expect the metals to trade higher on Monday. Gold will move through 1600 and silver will pierce 30. From there, they will appreciate nicely and we will soon be able to officially declare the "all clear".