Up or Down. The that's Gold's decision. This will likely hinge on the friday jobs number whether it misses or beats however the negative data out of the US indicates a pause in tighthening and the Fed may even move to ease to step the deflation. Gold is at a clear and pivotal juncture. I'm inclined to say it will move higher and then rally as the negative data is quite relentless. The Debt Ceiling battle is also on the horizon too. With a US Government unable to pass healthcare reform, can it tackle its ever growing debt obstacle? We all know what happened to Gold the last time the US was indecisive on the Debt Ceiling issue, except this time they appear to be even more indecisive. Lets wait and see.
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Gold is holding above the red line and moving averages for now.