Gold prices fell sharply on Thursday, down over 3%. This comes after price broke below the initial support level at 1631.90. There was a brief momentum when gold was poised to pullback. However, the failure at 1631 saw prices dropping down to 1594 and lower.
Currently, gold prices are testing the previous support at 1572 – 1568 region. So far, this level looks to be holding out. But a break down from here could put 1500 within reach.
