GOLD: Bears await clear exit from flag pattern

GOLD has seen its downward pressure pause as it prints a bearish flag pattern in the 1-hour time frame. Before now, the yellow metal has shed over 500 points as the US dollar enjoyed risk flows due to solid economic reports from the US. GOLD sellers will have to wait for a clear break out from the bearish flag pattern for further confirmation of the downside which could see the price exit the $2000 price level.