Gold recently reversed up from the support level 1950.00. The upward reversal from the support level 1950.00 started the active short-term impulse wave 5 – which belongs to the sharp upward impulse sequence (5) from the middle of July. Given the clear multi-month uptrend and the rising daily Momentum – Gold is likely to extend the gains toward the next round resistance level 2000.00- the breakout of which can lead to further gains toward the next resistance level 2050.00.