Big Picture Gold Chart
Gold has broken through the $410 level with gusto. Jim Rogers says there is more money to be made in lead than in gold (and I agree) but for today we'll refer you to a long term bullish gold chart.
I didn't sell in April when the price was $433 so the last 5 months have been a great lesson in patience.
Warrants of gold companies can provide a long term leveraged bet on increasing gold prices. I have some that don't expire until 2008. They are not an investment vehicle suitable for short term trading as they are illiquid securities. I believe that the price of gold will stay within that big picture trend channel for another year or two or three and having a long term investment that I can't blow out to buy something else (like uranium companies!) keeps me in the trend.
Better men than I have talked about the benefits of long term investing: