No respite for the metal this morning which dropped some 42 bucks yesterday after QE3 hopes were dashed in the FOMC minutes. Gold fell from highs in NY around 1681 and the move’s continued this morning with a fall to 1629.70 recently, from European session highs around 1645 .
There is some technical support down at 1628.20 from the Mar 22 lows but a break there targets the 1605 Jan 8 lows.
We’re at 1634 just now
