The 50 day moving average on gold's daily chart looks to be around $1136, and the 200 day moving average looks to be around $1134. Gold's 50 dma is now above its 200 dma. Golden cross? Check.

The middle of gold's bullish pennant is somewhere around $1230. (See, e.g., the charts at Jesse's Cafe Americain or Oscar Carboni's charts). The pennant's flagpole is around $100-110. So, the target price suggested by a breakout out of the pennant is around $1330-1340.

For now, let's see whether gold can stay above the pennant.

With best regards.

Old School