After dropping over $160 in the month of March, gold found its luster after being trapped in a $30 range since the 14th of March between $1630 and $1662. Today the metal broke the stalemate pulling back to the 4hr 20ema, before finding buyers who stepped in large pushing it up $25 in 4hrs. We suspect the trap at $1630 is where the buyers really entered and have been buying gold since. As long as the $1669 level holds, short term gold will be bought up so I will look for price action triggers off this level.. It should also be noted while gold was shedding the $190 over the last month, central banks were buying along with several sovereigns so we are expecting gold to be well supported near term.