Gold has retraced significantly from the $1700's. It appeared that we were ready to solidify this handle, however we faced a massive selloff with the rest of the risk-off assets, as the markets price in sobering data and a hawish Fed. We have broken through $1700 and our first two support levels in the upper $1600's at $1692 and $1683. We are currently finding support at $1670, but appear to be hanging on by a thread. Several green triangles are confirming support at current levels for now. If we are able to rally then $1683 is the next immediate target otherwise $1658 is the next level down.
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