After having formed the clear 5-wave structure when raising 500 points from 1180 to 1680 gold has turned into corrective movement.
Support level to watch for renewals of buying are 1560 and 1487.
As far as the sharp fall of the metal could be explained by the need to cover investors' losses on the other markets the retracement could turn out to be shallow and short-lived.
Support level to watch for renewals of buying are 1560 and 1487.
As far as the sharp fall of the metal could be explained by the need to cover investors' losses on the other markets the retracement could turn out to be shallow and short-lived.