On the gold daily chart, we see a bullish pattern; a five waves up from November 2015 low followed by a recent three wave turn down from 1375. It's a corrective move that can be finished after recent turn up from 1240 region. If we are correct, then market is now at the start of a new strong bullish leg that will take us above 1375 and towards 1400 psychological level.
Gold, Daily