Gold consolidation is not done

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Chart courtesy of http://stockcharts.com

Today we saw the expected downside follow-through from 617 on Gold. Yes, I think that Tuesday strength was only a tentative breakout and seems like the consolidation pattern remains. Gold may yet drop a bit with a downside risk not lower than 580. But I don´t really think it is going there as this time of the year is usually good for Gold.