Gold prices had an incredible run within a short period from 1550.00 to 1690.00 in a Month an increase of 9% took its final three targets as highlighted in my previous update and fell to 1633.00. Gold prices bounced back, but upside moves were challenged at 1655.00 which saw prices pushed down between 1655.00 and 1640.00 range.
The precious metal is trading in a correction zone currently consolidating and needs to hold above 1655.00 to head back up. Gold prices could head down to 1630.00 and 1615.00 if it fails at 1640.00 support.