The miners (via HUI) have been warning that gold was consolidating, not topping. Unfortunately, most traders and analysts got sidetracked by the latest COT reports.
Once the euro rallies out of its DCL and the dollar tops, gold should break out of the pennant and test the 2015 high at $1308. If the euro rallies big and makes a higher high, then gold will go through $1308 and test the 200DMA at $1350ish before the intermediate cycle tops.