GOLD faces risk of price recovery despite its Wednesday price hesitation. On the upside, resistance resides at the 1,650.00 level. Further out, resistance stands at the 1,660.00 level. A break below here will aim at 1,670.00. On the downside, support sits at the 1,640.00 level where a break will turn focus to the 1,630.00 level. Further down, a cut through here will open the door for a move decline towards the 1,620.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,610.00 level. All in all, GOLD looks to strengthen further.
