Gold previously broke through the support zone lying between the round support level 1800.00 and the 50% Fibonacci correction of the extended upward impulse wave C from the end of March. The breakout of this support zone accelerated the active short-term impulse wave 3. Given the bearish sentiment seen across the precious metals markets today – Gold can be expected to fall further toward the next support level 1760.00 (target price for the completion of the active impulse wave 3).