It was an inside week – this week the GCQ8 contract traded (~868$ - 912$) within last week range (~ 859$ - 913$) . gold is trading comfortably in recent range with a slight positive bias as the weekly closing price was higher then last week and also the contract closed at the higher part of the trading range.
Equity market are quickly approaching 2008 lows and $indu:gold ratio is probably ready for new lows.
GCQ8 (August Gold) 480 minutes chart
Dow Jones / Gold ratio linear chart