Main Scenario: As long as Gold stays below 1731 the main trend will be still downwards. Then the precious metal may go down to to 1685 price level
Target Expectation: 1685
Considerations Supporting The Scenario:
Gold rose over 1% buoyed by a retreat in the dollar and U.S. bond yields, while grim U.S. jobless data clouded the outlook for an economic recovery, adding to the metal’s safe-haven appeal.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1731
Alternative Target Expectation: 1737