Gold gained this morning for the first time in five days in London trade.

Yesterday gold dipped below $900 an ounce, which attracted buyers to the yellow metal. Investors also bought into gold as a hedge against a weak dollar ahead of key US economic data, which if weaker than expected will send the dollar down.

According to Bloomberg: “Gold for immediate delivery rose $9.25, or 1.1 percent, to $891.95 an ounce as of 11:17 a.m. in London. The metal fell 7.5 percent in the previous four trading sessions. Gold has risen 7 percent this year, compared with a 12 percent gain in the UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials.”

Where is gold going from here?

“Gold has been in a bull market since 2001,” says Doug Casey of Casey Research. “It’s gone up, on average, about 25% per year compounded, and there’s absolutely no reason the bull market should stop now. On the contrary, there’s every reason to believe that the gold bull market, having gone through its Stealth stage and still being in its Wall of Worry stage, is going to hit the Mania stage. To sell now would be to leave the big money on the table.

“My best advice is, be right and sit tight. And that means staying long until you see a golden bull tearing apart the New York Stock Exchange on the front cover of Newsweek magazine, at which point it will be time to sell.”