Gold have been trading in 5 years range below 1377.5. Gold have failed to break this range for 7 times in the past 5 years.
Recent inversion yield curve and Fed reserve latest comment have make path for the breakout. The rounding bottom formation is eyeing 1709 with gold continue trade above 1377.5. This sentiment shift would also suggest implied volatility with cautious ahead in the market as suggest by latest norm in VIX.