Direxion Gold Minere Bull X3 is one way to play a bounce in gold. it is up 13.5% today with a bullish engulfing pattern over the last two sessions. It offers a decent entry point against a modest risk. Risking a settle below $10.80, a long position here (13.40) could target a 50% or greater retrace of the Aug $51 high to last week low. Taking 50% of position off at $30 would bring a small profit and leave a longer time frame position to see if the Fed's QE program 'really worked.'