Dan Norcini writes:
"Considering what looks more like a non-stop avalanche of selling in the mining sector, the yellow metal is holding relatively well. It has bounced off the first level of support shown on the price chart that comes in very near to the $1700 level.
"Failure to remain above this level will allow the market to move lower towards the $1680 region where it can be expected to find some buying support.
"To get the least bit of excitement going, gold will have to clear $1740 and remain above that level before it rattles anyone other than the most short-term bears. ..." click through for the rest of his analysis and chart.