Gold is down $230 to $1990 and that's the lowest level since May 1.
The $2070 zone of major resistance continues to hold and the $2000 level had held in two previous selloffs this month before breaking today. The gold market is soft today as the odds of a further fed hike next month creep up to 22% from 12% on strong retail sales, industrial production and home-builder sentiment.
The US dollar is strong today across the board and 10-year Treasury yields are up 5.6 bps to 3.56%.
There is support down to $1969, which was the late-April low and on the fundamental side, there are ongoing signs of sovereign buying from Russia, China and elsewhere. That's likely to keep the market balanced until there's better evidence that central banks are preparing to ease.