Keep in mind that we had recently broken through the crucial $1680 level, and that is an area that has been supported more than once over the course of the last few years, and with that being the case it’s likely that the market has further to go.

• Gold markets have initially pulled back a bit during the trading session on Thursday but turned around to show signs of life as we continue the overall volatility in this market.
• The $1680 level above has previously been significant support, so therefore market memory should come back into the situation, resisting show signs of a continuation.
• At this point, any time we see some type of exhaustion in that area, I will be more than willing to short this market.