Gold remains inside a downtrend channel formation which is still giving the chance for another drop to test the support of 4525-50.
As we see from the chart and as long as prices hold below 4620, a drop could hit the market before the advancing again.
Above 4620 more strength could lead to an advance towards 4696 and above.
Below 4525 more of a drop is likely with support at 4450.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4525-50 | 4620 |
| LEVEL2 | 4450 | 4696 |
| LEVEL3 | 4320 | 4775 |