The NASDAQ has just made a run of historic proportions. After a historic drop due to Covid-19, the NASDAQ is back to new all time highs just 2 months following the drop. Price is very stretched above the 200 day moving average. The last time we had prices this stretched, prices did not just drop.... they crashed.
As long as price is range bound, I see only two ways to trade gold (or any of the metals). 1. to buy at the bottom of the range and hold, or 2. Await a breakout above the 1750 level. If either of these happen I would say we will be good.