December Gold is testing a critical 50% price at $1028.80.  A failure to hold this price could trigger an even further decline to the .618 retracement level at $1018.50. 

Traders should watch for a possible technical bounce off $1028.80 or the start of a short-covering rally. It is highly suggested that you read the order flow at this time to see if there are still big sellers present or if a buyer steps in on this test.