Main Scenario: As long as Gold stays below 1760, the main trend will be downwards. Then the precious metal may down to 1676 price level
Target Expectation: 1676
Considerations Supporting The Scenario:
Gold slipped to a more than four-month low on Monday as solid U.S. jobs data stoked concerns of a sooner-than-expected interest rate hike, which could increase the opportunity cost of holding non-interest bearing bullion.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1760
Alternative Target Expectation: 1803