Gold closed lower due to profit taking on Thursday as it consolidated some of the rally off June's low. The high range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near term. If it extends the aforementioned rally, May's high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a short term top has been posted.