From a greater perspective, I am seeing a truncation of wave 5 and expecting the price of gold to drop all the way to $1400(really pessimistic and ideal view though). However, since it's almost impossible for the safe haven to drop like that, I am seeing gold to drop to the (4) wave of the smaller degree, which is labeled in the chart as well. The short term price I am seeing is $1578.6, and of course, don't forget an SL order.