Crude oil markets are waiting what OPEC will do about production as a major meeting is going on to decide whether or not the production cuts will be continued.
The $1700 level underneath is being targeted yet again, as the market is trying to break down significantly. The US dollar is also going to be toxic for gold.
The early price action suggests the direction of the gold market into the close on Thursday will be determined by trader reaction to $1711.70.