GOLD (Spot) intraday: the downside prevails.
Pivot: 1617.00
Our preference: SHORT positions below 1617 with targets @ 1590 & 1576.
Alternative scenario: The upside breakout of 1617 will open the way to 1625 & 1638.
Comment: the price has broken below a rising trend line and the 50 moving average is heading down. A new down leg is likely.