Gold will hit down around the nickle-pull tab area. I know a person who digs most consistent pull tab signals (on a Whites) and has many gold rings, but they also have dug a whole bunch of trash. The only silver ring I dug hit around the penny-dime area. A bouncing signal from one bar to the next is pretty normal. If it bounces a few bars then it may be junk especially if it's close to the surface. But, deeper objects tend to give a signal that bounces around a bit. If you get a bouncy signal try walking around the object while swinging. It's not uncommon for the signal to change if you stand 90 degrees from where you first were. Sometimes you'll get a consistent signal for two or three swings and then then signal will drop low and then back up for a couple more swings and then low again. At first it may seem like a crappy signal, but it could be something good that is just a little deeper. The best way to tell is just dig it up. Eventually you'll learn what the machine is telling you.
-Swartzie