I was tempted to not update my guidance for gold, since there is so little to say at the moment. When Monday’s high failed by two ticks to surpass the previous Wednesday’s high, it created some minor short-term negatives in an otherwise bullish picture.  We’ve got haphazardly dueling impulse legs on the lesser charts, suggesting more turgid action ahead, so let’s simply stipulate that the futures must print 1159.00 (our old friend again, the “soft” peak from the hourly chart) before we rouse ourselves to action.