I am just going to check Kitco to see if it hasn’t got here already this afternoon! No, it hasn’t, not so far.

A break below $1308 was looking likely yesterday but the price is now $1313 so maybe that move was a flush below the $1308-1310 key support?

If not, then there is perhaps potential to go to $1250-1267 on my chart. I wanna see what happens.

There has been a small double top above a main line of resistance (dark blue line with Rs and Ss); resistance became support and is now resistance again. This almost coincided with the top rail of the light blue pitchfork (which also seems to be in play for this whole move from $1045 last December). One might also use the light blue line as a neckline, since the dark and light blue lines have recently crossed and are almost coincident. Again, resistance became support and is now resistance again:

.20160831 pitchforks gold 1205 1267 1250 RS target

The next stop could be the median line of the dark blue fork or the median line of the light blue fork (red circle) which are interestingly due to meet pretty soon. Target region for this is about $1250-1267. I wonder if the crossing of the two median lines might be a crucial time. This would be about in October at $1275. A move under this region ($1250-1275) would likely put the bottom rails of the forks into play, currently at $1170 and $1100.