I don't subscribe to TA, But take a look at a 5 yr gold chart. In each of those years gold moves from a short term low to a significantly higher price for a period of a few months. Might have something to do with Diwali, an Indian holiday celebrated traditionally with gold gifting. I believe it also has something to do with the upcoming Chinese New Year which seems to boost gold demand. These are not my exclusive ideas but have read about these catalysts elsewhere.