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.
No real major news tonight on the macro front.
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.
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It's getting close, gold bugs need to see a closing above 1178...
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