Gold fell below 4695 which could lead to a further drop.
As we see from the chart, the market is facing a resistance zone at 4765-95, where as long as prices hold below it, the drop pressure could continue as support at 4554 could push for a rebound.
Below 4554 more of a drop towards 4306 could hit the market
Above 4795 more advance may be expected.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4633 | 4765-95 |
| LEVEL2 | 4554 | 4830 |
| LEVEL3 | 4480 | 4890 |
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