Gold continued to hold on its gaining streak during its previous trading week and posted a high of 1326. The entire bull rally from 1262 is an extended wave which still has a potential of extending higher towards 1329/31 ahead of turning weak in coming weeks. I was expecting a deep pullback from 1307 towards 1286 before resumption of the ongoing bull rally towards 1320/1334 which I mentioned in my previous post. From here onwards the scenario of prices retesting the lows of 1236 in negated.