The triangle in gold is near its apex point from where the breaks usually occur.

FORBES: Big Move In Gold And Silver Imminent

Chart Analysis : The long-term daily chart of the Comex continuous gold contract shows a flag or triangle formation (lines a and b).

FORBES: Gold Glistens in July

The pattern being traced out in gold is known as the right angle triangle.

FORBES: Big Move In Gold And Silver Imminent

Meanwhile, gold had become confined within a symmetrical triangle formation of lower highs on the rally attempts and higher lows on the pullbacks.

FORBES: Gold's Plunge Has Legs To Run Lower

The weekly chart of the Spyder Gold Trust ( GLD) shows a broad triangle or flag formation (lines a and b) that goes back to July 2011.

FORBES: Gold: A Long & Short-Term View

Looking at technical charts, Patton said gold is moving in an ever-tightening so-called triangle pattern with a progressive series of lower highs and higher lows.

FORBES: FOCUS: Gold Falls As Fed's Bernanke Doesn't Signal QE

The triangle shown on the chart shows a downtrend for gold.

FORBES: Big Move In Gold And Silver Imminent

Chart Analysis : The weekly chart of the Spyder Gold Trust ( GLD) shows the tight range in May and June that was followed by the completion of the triangle or flag formation (lines a and b) at the start of September.

FORBES: Coming Soon: $2,000 Gold, $40 Silver?