Gold has broken 1300, on an uptrend, on the back of expectations of further QE (and, relatedly, a falling USD).

The only reason not to trade would be that the trend is getting a little old, in the short term (extension from the trend line) and medium term (as shown by the trend age page below). The QE story may be strong enough to keep the market moving, however, and the break of 1300 will bring in people who have been waiting to buy on a pullback. Trading the breakout right away is more effective than trading a retest in this market.