Gold: Where to draw the line in the sand after jobs data

Gold GCQ3 0.05% had a comeback-kid story to tell on Friday. As weaker-than-expected July payrolls growth hit the tape, the metal began paring a $25-plus loss faster than you can say “gold bug.” But rather than a blockbuster at the box office, this move may amount to no more than a TV movie-of-the-week. December gold is keeping its head above $1,300 an ounce, a level that some say has now tentatively switched from support to resistance, but not exactly soaring.
How irrationally exuberant should a gold trader be now?
http://blogs.marketwatch.com/thetell/2013/08/...atest_news