Gold: nice breakout, but not enough

The chart below speaks for itself. The spike came while eur/usd and crude were down, making it even more impressive. But crude continued to sell off on news that the Chinese government will be raising fuel prices, which would curb demand. Nice sounding headline, but it's meaningless, and I'm not even going to explain why. Today's crude action is most likely due to contract expiration, if anything, but it did put pressure on gold, which trickled down to close below $900. Gold needs to finish strong tomorrow to wrap up a nice week for bulls.