Key nearby support in the 1350 region is now likely to come under fresh examination, which if decisively breached would signal acceleration towards 1310 region next.
The current recovery phase in the precious metals could certainly go a little higher in the days ahead, but ultimately appears to be corrective in structure and hence gains are unlikely to prove sustainable.
Gold is now approaching out next target area around 1150 from where a sharp corrective bounce could develop.
The current downward acceleration is taking the base metals towards critical support area as offered by the early May lows. Are these going to hold or break? Take a free trial of my daily report for further insight
With some important uptrends breached in some of the important international stock indices further volatile action should be anticipated in the metals with further tests of support likely. Take a look at my service for full details.
Recent corrective bounces, as expected have proved unsustainable for the time being with fresh tests of key supports now likely. See my full report for details.