The SPDR Gold Trust (NYSEARCA:GLD), which is a decent proxy for gold prices, is moving higher again today on the first trading day of November.
Taking a look at the GLD Daily Chart below, you can see that we pulled towards the key 100 level last week. Daily Percent R also moved down from Bullish territory to test the key 50 mid-level. We since have bounced from these support areas, and are approaching the old October highs.
In October, the GLD got stuck in roughly a 102.5 to 104.5 range. That range may again provide a bit of resistance ... but it looks to me like a breakthrough to new relative highs is in the cards.
GLD Daily Chart
Disclosure: No current position.