GCJ11 – April Gold (Last:1355.00)

April Gold (GCJ11) price chart with targetsNo change.  A pop exceeding 1354.00 would enhance a tired, albeit moderately bullish, short-term picture, putting a 1360.30 target in play for pass-line bettors. The futures have seemed adamantly determined not to give up ground for the last week or so, other than when shoved by the bad guys when there was some piece of news that could be construed as less than glowing for bullion.  News will probably continue to drive gold’s price action, but one shudders to think about how scary it would have to be to push quotes…higher.  ______ UPDATE (1:16 p.m. EST): After a gratuitous feint lower early in the session, the futures got in bullish gear  with a so-far $31 spike that reamed shorts and sellers a new orifice.  The intraday high as of this moment is 1356.60, but the 1360.30 target would appear to be in-the-bag.