Gold futures (GC) are taking a breather after surging more than 1.5 percent yesterday and are now in the late stages of consolidation since hitting a new 2023 high in April.Gold futures are now comfortably back above the key round psychological level of $2,000, increasing the likelihood that gold futures will retest the upward channel resistance line and the upward wedge resistance line on the weekly chart this week.Gold futures are close to completing the bull flag consolidation since August 2020, and it is increasingly likely that gold futures will retest the 2022 high and 2020 all-time record high at some point in May.A bullish catalyst for gold futures could come as early as today after ADP non-farm payrolls at 8:15 a.m. Et, or ISM services purchasing manager data at 10 a.m. Et.The Federal Open Market Committee (FOMC) will announce the interest rate decision today at 2pm ET, after the Fed Chairman's press conference, the volatility of gold futures may spike, and may continue to fluctuate after the US weekly jobless claims on Thursday, the US average hourly earnings data on Friday, the April non-farm payrolls and the unemployment rate.Congratulations to the subscribers who read and profited from my warning on November 2, 2022, that gold futures are in the early stages of forming an important bottom.The Relative Strength Index (RSI), Stochastics and MACD on the weekly, daily and 4-hour charts are all at the bottom and are either rebounding or consolidating recent gains.I will go long in the green area on the daily chart and aim for the red area next Tuesday.If I am a volatility trader, the amber/yellow area is where I set my stop (although I rarely hold overnight positions in my personal account, I set the stop range narrower).This article has been translated into Chinese. Darren Chu, CFA, Chief Financial Analyst (Founder of Tradable Patterns). In the event of any inconsistency between the English version and the Chinese version, the English version shall prevail. The analysis in this article is for informational purposes only and is not and should not be construed as an offer or solicitation to buy any security. General market activity, industry or sector trends, or other content based on broad economic or political conditions discussed in the article should not be interpreted as research results or investment advice. References to specific securities, commodities, currencies, or other products included in the discussion do not constitute a recommendation by IB to buy, sell, or hold such investments. This material is not and is not intended to address the specific financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is appropriate for your specific situation and seek professional advice if necessary.