Gold prices are down over 1% on an intraday basis on Tuesday. The declines come amid heightened market volatility. Price action fell to the support area of 1650 as expected and is currently rebounding. We expect price action to hold above this level in the short term. A lower high off 1650 will probably suggest that the upside is coming to an end. However, for this to be confirmed, XAUUSD will need to then break past the 1650 handle
