Looking at the nature of the gold price game on a 1 hour chart over the last week and gold was allowed to rise and then was smashed on the Thursday into the Friday NFP report and then was allowed to rise on the announcement of the numbers. Then gold was capped at $1900 then bombed into the CPI numbers and then was allowed to rise back up to $1900 again where they are feverishly working to cap it again.
The technical situation is close to neutral and no way near the overbought structure at the previous high.
