Andrei-irk, make sure you also study intermarket analysis. There are so many variables affecting the gold price. You cannot focus on the gold chart alone. One market theory says:
- Gold Prices and USD are inversely proportional.
- Gold Prices and EUR, CHF, NZD, AUD are directly proportional.
So for one, have a look at EUR/USD chart and compare it with gold and you'll see a correlation. Not precise, but one tends to lead the other from time to time.
I think Gold is one of the markets that is affected heavily by fundamentals, as people still consider it as a safe haven when the stock/currencies go bad. So if I were you, I'd study gold fundamentals.
Good luck!