Spot Gold may visit $1440 per ounce

$1455 per ounce is the support, a break below can cause gold to travel to $1440. This fall may extend to $1417. The bounce on Tuesday is regarded as pullback towards $1466, a resistance. Break above could lead to travel upto $1475-$1478.

Daily chart suggest a lower target at around $1405. It is 38.2% retracement of the uptrend from $1159.9 to $1557.

Gold may complete a pullback around $1463 and then fall towards $1440. Break below Tuesday low of $1450 could confirm further downtrend towards $1405.