A smack down in gold ahead of a strong rally!
Gold 's (XAUUSD, $1,804) smack down happened to be more painful than anticipated as initial support at $1,832 - 1,835 did not hold. Likely scenario is that gold is going to re-test 6-month resistance, which should now act as a support around $1,793 - 1,795. December target $1,925 - 1,950 in place!