Should gold go into a downtrend, would you want to short knowing that every day, there are bombings going on in Gaza? You don't know who is going to jump into the war to defend the Palestinians.
While some profit-taking took the price of gold down about $30 from the peak, I am not bearish gold.
Bonds and notes are losing yield. As that happens, it could work its way into the dollar. For the gold market, you are up for the week.