The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( fxtechstrategy.com) -- While gold remains bearish and vulnerable to the downside, there is a likely risk of further declines. In such a case, 1,627.50 will come in as the next downside target with a violation of that level opening the door to 1,601.10.
Gold Continues to Face Downside Risk
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts