Peaks and Troughs Progression
Gold formed an intermediate low during the summer: The market is trending higher. I expect a minor high to form at some point during the next few weeks.
Moving Average
Currently, price is above the rising 50-day simple moving average: the trend is towards higher prices. Further, the market is above the 200-day simple moving average: the primary trend is towards higher prices.
Indicators
The 14-day ADX is rising which suggests the market is trending. The 12-day rate of change is rising and above equilibrium: the market is higher than it was 12 days ago and the difference is increasing.
