Here is the updated Daily chart of Comex Gold. I had mentioned recently, that the commercials had gotten long this market. At that time, we were still in a downtrend.
That trend has now been broken, and a powerful move upward has taken place. The seasonal is a little early, to make this an ideal long setup. However, rarely is everything setup perfectly for trades.
As a long term trade, I would not be a buyer here. However, as a short term trader, I would watch for retracements against the trend for entries on the long side. On this past monday the market broke through the 608 level, which was a level I had mentioned to watch in a prior post. Breaking that level, reversed the downtrend.