On the charts, April gold futures have plunged out of a wedge pattern drawn on the daily chart, see Figure 1 below.

FORBES: Technical Trading: Gold Breaks Out of Wedge, But Sequester Looms

The next leg of the trade came in the form of a macro wedge pattern, as seen on the chart.

FORBES: Gold Bound For New Highs

New York Comex gold futures have been consolidating within a rising wedge pattern, seen on the daily chart below, for several weeks now.

FORBES: Technical Trading: Gold Consolidates in Wedge, Bulls and Bears Battle It Out