Technical analysis:
Gold has been trading downside as I expected and the price has reached first objective at $2.007 level. Anyway, due to the strong downside momentum I see potential for the further drop.
Due to the breakout of the mini upside channel in the background, I see potential for the further downside movement towards lower references.
Next downside objective is set at the price of $1.990
MACD oscillator is showing bearish reading, which is another good confirmation for the further downside.
Key resistance is set at the price of $2.030