No More Reiteration, GLD and NUGT are Starting their run

I reiterated Buy on GLD and GDX or the 3x leveraged UGLD and NUGT.

Apparently the news for the move is a Russian retaliation over a JPM block of a Russian Embassy transfer of $5,000 by JPM under the pretext of US sanctions. The move is said to have occurred because of threats of retaliation and JPM has a large and very active gold vault. Russia's Foreign Minister called the move "Illegal and Absurd" adding further...

"

“Any hostile actions against the Russian diplomatic mission are not only a grossest violation of international law, but are also fraught with countermeasures that unavoidably will affect activities of the embassy and consulates of the U.S. in Russia,” Lukashevich said."

 However, that's kind of hard to swallow being we've been tracking and reiterating so often, in fact...

 Here's the divergence yesterday and this morning's confirmation already out to the 3 min chart in early trade.

Here's NUGT's 3 min chart with confirmation of the gap up in early trade.

Right now UGLD is up nearly 3% while NUGT is up over 8%.

I'd stick with both as I believe both are in counter trend rallies which are some of the strongest rallies you'll see during a bearish trend which both have been under.