Here is my opinion about XAU/USD ( 4h. update )

Technical picture on large timeframes is controversial and overall gold looks overbought.
But at the same time, there is certain correlation with NDX index.
And overall the stock market is in the phase of a huge bubble that could burst at any moment.
Be careful with stocks and shorting gold, use stop losses.

Kommentera:

I highlight this as the main fundamental reason for possible further gold' growth