Current Trading range: $1570-1635$
The fine metal price evolves near the key polarity-resistance $1635 area which started in October 2011. The XAU / USD evolve in an ascending triangle since the end of May, 2012. Downside trading range is reducing day after day. The current trading range is $1570-1635$. A closure above the level of 1635 would represent, from a technical point of view, a bullish signal with as first objective of 1660$ (Fibonacci retracement 50 %) then as a second objective $1690 (61.8 %).
Inversely, the quote could stay in its triangle.
The RSI is rather bullish.