In the chart above, we can see that the topside of the breakout held in as support and in April the price has tested those lows. After a few days of grinding, a bid in gold is starting to emerge. I think this trade will be slow to the upside, but I'm betting on a steady climb back to the March high and from there for a 'W' pattern to emerge by testing the old February high. Any breakout from there means gold will be off to the races, but I believe that time is somewhat far away.
Buy gold here at 1299 ( GC or GLD )
Target 1: 1322
Target 2: 1345