Gold prices are pushing lower after the precious metal failed to find support at 1717.65.
The breakdown below this level has led to gold falling over 0.80% intraday.
Prices are now trading off a minor support level at 1696.50.
If this level holds, we expect some consolidation with the price levels.
Alternatively, a break down below 1696.50 will see gold prices falling back to lower support near 1671.95.
This will mark a much-anticipated correction in gold prices in the longer-term horizon.