Traders would likely want to be cautious of chasing this short-term move higher here; as the potential certainly still exists for a furthering of the ‘negative cycle’ that we discussed in our last article. The premise of which is the fact that trend-side moves (bullish) in Gold prices this year have usually been quick and violent as the Fed relents from hawkishness or rate hike plans. And then as the Fed ramps up hawkishness again, Gold prices have grinded lower, much as we saw from the highs of July to the ‘big break’ of support in early October.