GOLD: Faces Downside Threats.
GOLD: Our GOLD broader view remains to the downside suggesting an eventual return to the 1,554 level. A violation will pave the way for a run at the 1,530.00 level. A breach will aim at the 1,500.00 level, its psycho level. We expect a price hesitation to occur here if tested but if broken we could see further weakness towards the 1,478.05 level. On the upside, resistance resides at the 1,600.00 level and then the 1,669 level where a break will aim at the 1,695 level. A violation of here will call for a run at the 1,730 level. All in all, GOLD remains vulnerable to the downside medium term.