Down near 2% on the day
Gold has taken a tumble in trading today falling over 2% at the lows. The high price came in at 1265.92. The low fell to 1220.30 (for spot). The price is currently trading at 1234.50 - down 1.93% on the day.
Technically, the precious metal has pushed below the 38.2% retracement of the move up from the Dec 2015 low. That level comes in at 1249.66. That is now a risk level for shorts. . Lows from October came in near that level. There was swing low from June that also bottomed at that $1250 area. ON the downside, the next target comes in at $1210.86 area. That is where the 50% retracement of the same move higher is located. It also corresponds with swing lows from end of May/beginning of June (down to 1200) and also lows in March/April.