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Gold could see $1295
The breakout last week above the long-term descending trendline bodes well for gold, so long as it can hold the $1275 area. A close below $1270 would mark a bearish development, and raise the prospect of renewed losses.
Gold appears to be at a crossroads, and it would better to see a move above $1295 to be more comfortable about the likelihood of further gains.
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