On Wednesday, gold bounced off of a Hidden Pivot that had been touted several times, and in the process traced out a new pattern, not yet confirmed, whose “D” target is near the all-time high.  The Wednesday high was four ticks below our 1257.0 “D” target (mentioned yesterday and in earlier touts), and a quick decline of more than twelve dollars followed.  So long as this 1244.1 low is not revisited, a print of 1249.9 would confirm a new, smaller pattern with a midpoint at 1255.6 and “D” target at 1267.2.  Traders should continue to bear in mind Friday’s non-farm payrolls announcement, an event which has at times been preceded or immediately followed by heavy selling of gold futures.  (Posted by Doug McLagan)