GOLD: While Gold took back some of its previous week losses to close higher at the end of the week, it still holds on to its broader downside vulnerability medium term. This suggest its present upside attempt is corrective and should eventually fade, turning it lower. In such a case, the 1,527 level will be targeted with a cut through here paving the way for further declines towards the 1,500.00 level. Price hesitation could occur here but if that level gives way, expect Gold to decline further towards 1,478.05 level. The alternative scenario will be a return above the 1,640.45 level. This if seen will set the stage for further correction towards the 1,670.70 level and possibly higher towards the 1,700 level. All in all, Gold continues to hold on to its broader medium term downside bias though attempting a recovery
