I’m bearish on gold this week. Anyone willing to go long above 4070 should think it through. Setting a stop at 4107 is the obvious play. First I’m watching 4050, then 4020. If it breaks below 4000 and hits 3990, that’s where we’ll really see how things stand. Volatility usually contracts before the U.S. open, so don’t rush to chase it. I’m watching to see whether it can hold up on the fundamentals—not just a few lines on the chart. We’ll see how it turns out over the weekend and compare notes then.