Two major recent reports have come out today:
1) Report: U.S., China struggling to agree on plan for September trade talks
2) Report: China launches WTO complaint regarding USA's recent tariffs
Contingent on these two reports, we also see continued weak PMI's globally around the world, particularly in the UK, and we can formerly expect sharp moves in Gold to the upside. With additional and significant American data releasing this week Gold should soar to well over 1600 before October 1.
ECB is likely to cut, and with the recent breakdown in the trend-line across the US markets, this should be enough pressure for the Fed to be at-least very dovish - if not cut.
Once Powell confirms (which he may do in September, or later on this year), that is when we can expect the break-down of the DXY and massive moves to the upside in Gold . Until then we can expect moderate moves to the upside in Gold with typical retracements at certain levels. However, with Trump repeatedly targeting the US dollar , we can expect an eventual break-down of the DXY within the next 1-6 months.
Target by Oct 1: Over 1600
Target by Jan 2020: 1900 or more
If ADP numbers come in as expected or poor, Gold could surge to 1585-1600 in the coming days.