Commentary Top of the list of technical movers is gold. The yellow metal has risen to a new all-time high. Support looks strong as shown on the chart below and our view is that gold is likely to rise to a technical target of $1275. An alternative technical count is $1330. Either way, we expect gains of around 25% to 30% from this morning's levels. Our chart above shows that JSE gold shares broke their underperformance trend relative to the market in early September. Until now, the new trend has been neutral as there was no higher high to match the higher low. This changed yesterday when the gold index (2633) reached a higher high relative to the all share index (25020). We're moving gold on our sector watch curve on page two from `upgrade to neutral' to `overweight'. In absolute terms, the JSE's three large gold miners need to break above the resistance levels we mentioned yesterday (also, see charts on page two). As the dollar weakens, it is not only gold that has reached a new high: in the past 24 hours, the Australian dollar, NZ dollar, Canadian dollar, Indian rupee, Russian ruble and Hungarian forint have risen to fresh new highs against the greenback (not all-time highs but at least 12-month highs). The only currency against which the dollar is displaying any strength is the pound. We remain dollar bears and expect weakness against the rand to primary support at R7.20.