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.
We may see a respite here but if that fails to occur, further declines could follow toward the December low of 1,522.55. A break of here will open the door for further weakness toward the psycho level at 1,500.00.