The AMEX Gold Bug Index has rallied in recent days and appears poised for another leg up and a potential move back toward 360.

The AMEX Gold Bug Index appears poised to test technical support at 310.

Gold held technical support last week when June gold futures held Thursday's two-month low of $654.10, trading no lower than $656.40.

World's largest gold producer posts first quarter loss...........

Barrick Gold Corp. reported its first quarterly loss in more than five years as the company incurred $557 million in costs to exit sales contracts at below-market prices. The first-quarter net loss was $159 million, or 18 cents a share, compared with net income of $224 million (29 cents a share) a year earlier, Toronto-based Barrick said today in a statement. Excluding the cost to exit the contracts, profit was $398 million (45 cent a share) topping analysts' estimates.