Gold markets initially tried to rally on Thursday but gave up gains to show signs of hesitation. Ultimately, this is a market that I think has to make a bigger decision, with the $1800 level underneath offering a massive support level. It’s worth noting that the $1800 level has been the scene of a “double bottom,” and therefore we need to see what happens in the general vicinity because if it was to be broken down below, that could be a very negative turn of events. In fact, if we do drift lower and break down below the $1800 level, then it’s likely that the market could go to the $1750 level, maybe even the $1700 ... (full story)