RE: Catalyst Not only that but we are near or are in a capitulation in the bullion market. Gold's long term trend channel has a lower end range of $1530-$1550 that we can safely hit and still be safe. It's likely there will be a strong bounce off that price.
Also, options expiry is Monday. Think about that. It looks like someone is rushing to get gold down to $1550 before options expiry. I wouldn't be surprised if we see a lot of short covering going on presently and see a sharp upward move Friday or Monday.
I've always thought the PM market would turn late spring or July but the markets wait on no one. They're going to do what they're going to do.