Gold recently reversed up from the support zone lying between the key support level 1693.00 (low of the previous minor correction from the start of May), lower daily Bollinger band and the 38.2% Fibonacci retracement of the earlier upward impulse from the end of March. The upward reversal from the aforementioned support area started the active short-term impulse wave 3. Given the strong daily uptrend – Gold is likely to extend the gains toward the next resistance level 1765.00 (top of the previous impulse wave (iii)).