I’m skeptical toward Gold’s leap on Friday, since it was triggered by payroll news that will not much affect the Fed’s determination to tighten ‘soon’. The hawkish story they’ve painstakingly put in play will remain the same regardless of the fact that a piece of meaningless employment news caused a knee-jerk reaction in markets most affected by the dollar’s ups and downs. However, because gold’s rally is bullishly impulsive on the hourly and daily charts, I’ll continue to weight the technical evidence more heavily than mere logic or reason. In practice, that means turning bullish as all get-out if the August contract leaps above the 1257.35 midpoint Hidden Pivot shown, or better yet exceeds it on a closing basis on Tuesday. That would put the 1274.00 target in play, as well the prospect of a complete recovery from May’s nasty selloff. ______ UPDATE (June 7, 7:52 p.m. EDT): Buyers have shown sufficient pluck since last Friday’s ballistic thrust to suggest they are up to the task of delivering a strong follow-through leg. If so, it has the potential to reach 1279.00, provided the midpoint resistance at 1257.95 gives way easily. Since a theoretical ‘buy’ signal was tripped today at 1247.43, you’ll have a green light to look for a ‘camouflage’ entry opportunity. Try the 15-minute chart for this, since there are a few ‘external’ peaks you can use to set up the trade.