Based on decades of evidence for 50% retracement behavior in any market, gold was due for it's pull back to the half-way marks between past high's and low's.
While there is NO guarantee gold will bounce off of the following levels, it's a fairly safe bet to be a buyer at either one.
The 5 yr. hi and low of $1,900 + $709 = $2,609/2 - $1,304
The 10 yr hi and low of $1,900 + $333 = $2,233/2 = $1,116
“Give a man a gun, he can rob a bank. Give a man a central bank, and he can rob a country and the world.”