GOLD remains lower as it continues to look weak and vulnerable to the downside. This development leaves the commodity targeting further downside towards the 1,540 level where a violation will pave the way for a run at the 1,530.00 level. Further down, support comes in at the 1,500.00 level, its psycho level. We expect a price hesitation to occur here if tested but if broken we could see further decline towards the 1,478.05 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, GOLD will have to return above the 1,619 level to halt its current bear threats and create scope for more ... (full story)