Key levels for gold in play
Gold is back below $1700 but the key intraday level is $1692, which was the Asian low. It bounced strongly from there earlier and has bounced again in the past few minutes.
A quick look at the daily chart shows how the area around $1700 is important but last week's low of $1659 is pivotal.
This looks like the start of a consolidation pattern to me.
