It's getting close, gold bugs need to see a closing above 1178 tonight to suggest gold can go higher next week. A closing below 1155, unlikely tonight, will suggest immediate downtrend should follow next week.
As such, US reporting season should have much to say. US futures pointing slightly higher, I wouldn't be surprised to see a lower close tonight after last nights big run. That said, apparently the US congress will increase the debt limit tonight to 19.6 trillion - if this happens, we could see a pull back in stocks with money returning to short term money market.
