GOLD: With the commodity remaining vulnerable and bearish, it looks to decisively break and hold below the 1,672.23 level. While it may be holding below here as at the time of this report, it will have to do that on a weekly closing basis. A continued hold below here will turn attention to the 1,640.45 level with a cut through there allowing for a push further lower towards the 1,600.00 level. A respite is likely to occur here and turn the commodity higher. Its daily RSI is bearish and pointing lower supporting this view. Conversely, a return above the 1,753 level will open up further risk towards the 1,774 level. A cut through here will call for a run at the 1,795 level and then the 1,827.85 level. All in all, GOLD remains vulnerable to the downside.
