Gold (Xau/Usd) is getting closer to a major top. The expanding ending diagonal has been following the path nicely and has been exploding higher in recent weeks/months. This is what is expected in a 5th wave of an expanding ending diagonal. Since diagonals count like triangles with an internal structure of 3-3-3-3-3, it is normal that the 5th wave is a corrective wave. More in detail, there are a lot of complex double 3's (WXY) on different levels, all with nice fibonacci relationships.
As for the last part, the rally from 1308, on the daily chart i can count an ABC corrective wave, with a wave C 161.8% of A target around 1600 aswell. This count seems very hard on smaller timeframes, so this is still open for alternative complex corrective counts. But since the weekly chart shows a clear target of 1600, i wouldn't be surprised if this little ugly duck turns into a beautifull swan...
As for the last part, the rally from 1308, on the daily chart i can count an ABC corrective wave, with a wave C 161.8% of A target around 1600 aswell. This count seems very hard on smaller timeframes, so this is still open for alternative complex corrective counts. But since the weekly chart shows a clear target of 1600, i wouldn't be surprised if this little ugly duck turns into a beautifull swan... 
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