Gold touched a fresh high today but fell after the payrolls data and is down $9 to $1781. To me, it was most-demonstrative that gold bounced right back after dropping to $1772.

Taking a step back, the longer-term gold charts remain stuck below the Nov 2011 low. The market has been consolidating around these levels for three weeks. When $1803 breaks, the move to $1900 could come quickly.

It’s tough to find anyone who isn’t bullish on gold.