This is the fourth sell signal in April gold since the trend turned back to down in early February. This is also a new low close for the recent move down where I have support at $1,136. The weekly chart is the real story: The kings cross counter trend sell signal accrued the first week in February, and is about to cross. The moving averages are going to cross to the down side. Notice the past two times they crossed where the major selloff (green line) goes under the red line.
Gold could have a big selloff; $50 to $90 or even lower. The first support is $1,122 and we may find psychological support at $1,100. I think it's even possible to see $1,050 in the future the monthly chart, which has so far has a fresh sell signal and looks like it is about to have another leg down that should go well below $1,100.