Gold is in a shallow pullback late Thursday night after an encouraging $30 run-up, suggesting it wants to keep going on Friday. Although we might ordinarily expect the futures to peak overnight, the heavy lifting will already have been accomplished with any move that surpasses the two daunting structural peaks shown in the chart. They lie, respectively, at 1685.40 and 1699.60. Night owls can try boarding via a timed buy-stop, a strategy I’ve recommended in Silver because of the steepness of the A-B impulse leg. To see what’s required, check out the Silver chart, since it’s nearly identical to Gold’s. ______ UPDATE (2:15 p.m. EDT): Gold has relapsed without challenging the two peaks noted above. The closest Hidden Pivot support where we might look for a turn lies not far below, at 1645.10, but if this midpoint fails, we’d be looking at a likely 1608.90 (daily chart, A=1685.40 on April 2, and B=1613.00).
