"If you look at a daily chart, we're forming this giant triangle pattern and I think we have a couple more weeks back and forth, and then some catalyst is going to happen and that's going to be the direction from that point forward," said Streible.

Gold mining stocks were mostly higher on Monday. Shares of Randgold Resources ( GOLD) were rising 3.2%, while shares of Newmont Mining ( NEM) were gaining 0.98%.

Among volume leaders, Barrick Gold ( ABX) was up 0.19%, but Kinross Gold ( KGC) was off 0.51%.

Gold ETF SPDR Gold Trust ( GLD) was increasing 0.43%, while iShares Gold Trust ( IAU) was up 0.41%.

-- Written by Joe Deaux in New York.

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