When we started our down move, we put $1950 in as our first buying opportunity - and the smallest of three scale-down purchases at $50 intervals. After we got filled on that, the market stalled and it looked for a few days like we might simply rest and then resume the rally. We decided on a course of patience, and that has played out well. The plan is rolling out according to spec.

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After dithering, Gold has made a move at last, and it is to the downside.

And so, we wait for the $1900 level to come in to view.

The main "culprit" for our move lower isn't really EUR/USD, which hasn't done much, but, instead USD/JPY, which is taking a real battering. The move over 140 has the market expecting more Dollar action to the upside...(especially as the Chinese Yuan is getting pummeled lately).

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Nothing has changed. We are still executing the plan. We still see very solid chances of a pronounced Gold rally in Q3, and that is what we are preparing the position for.