"Does the triangle indicate that something is about to happen?"

David Fuller's view My tongue-in-cheek initial response is that in markets, something is usually about to happen.

I assume that the chart which you included was produced by someone who is a bit bearish at the moment, unless gold can break above the horizontal line near $1700 on an increase in volume.

Meanwhile, stock markets are temporarily overbought following sharp rallies, as we can see from the two charts in my response to Email 2 above. Consequently, a nervy pullback, should it occur, could firm the USD once again and cause a little contagion selling in gold. However, if US stock market indices remain above their reaction lows, as I suspect, gold should avoid a challenge of its low near $1530 during a support building phase, despite the accelerated high reached in August.

For a more detailed assessment of gold, I recommend Eoin's Audio posted on Friday before he left for China