Gold had earlier just penetrated the 1800 at 1798.6 and again...

Gold had earlier just penetrated the 1800 at 1798.6 and again bounced back up a little. My guess is the possibility of going below 1800 level due to deflationary pressure with the europe debt default and profit taking. My guess is it may tag the 50day moving average of around 1705 as its also where it bounced back up after the first initial selloff.