On weekly chart there is a HUDGE CUP & HANDLE. On 4H an INVERTED CUP & HANDLE. Long term I believe it will go up but also a 50% Fib Retracement on H4.... may 1st make a down turn the up.
As indicated in chart ONE CAN MAKE MONEY WITH STOCKS BY CLOSING YOUR POSITIONS A BIT TO EARLY
Wait for break ---- down or up
Gold may drop to 1494 and bounce up or break through and go down to 1482. Let see
Gold is currently running in a band. Long at bottom and Short at top. Breakout either way may send it up or down.... but currently the band looks like the option for short time play