We did not expect gold to fall below 1570 and would be very surpirsed to see it fall below 1550, though we can't discount a retest of the lows at 1526
Nevertheless, we consider the low to be in for the correction and the risk reward profile is overwhelmingly in favour of a long position right now.
Should 1525-1520 fail to hold, gold could be headed much lower and we would have to reassess our longer term bullish picture.