The Daily trend is in a Downtrend technically indicated by following: • Price is currently trading BELOW the uptrend trend-line. The downtrend is confirmed from the MAs. Bearish cross observed- MA 10 cross under MA20. RSI: • RSI is BELOW the equilibrium level- 50. Bearish Momentum. Generally, Gold is back to the level of June 2016, broke below the important support level at 1300.00. Bearish Scenario: With the break below the uptrend-line which is a signal for short positions, we will recommend SHORT POSITIONS for the no position holders on GOLD. Take profit at 1250.20 (S1+SMA200) and then at 1202.00 (S2) and stop loss should be a bit above the 1300.00, thus the stop loss is at 1325.00 area. For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above. Bullish Scenario: While sentiment remains bearish, it is too early to recommend any long position. Therefore we are waiting for a reversal move.