Quiet but remains bullish *RES 4:........>

GOLD TECHS: Quiet but remains bullish

*RES 4: $1617.1 - High Apr 2013

*RES 3: $1600.0 - Psychological round number

*RES 2: $1587.0 - 61.8% retracement of the 2011 to 2015 decline

*RES 1: $1535.1 - High Aug 13

*PRICE: $1517.0 @ 07:20 BST Aug 16

*SUP 1: $1479.7 - Low Aug 13

*SUP 2: $1471.4 - Low Aug 7

*SUP 3: $1453.1 - High Jul 19

*SUP 4: $1431.2 - Trendline support drawn off the May 30 low

Gold is unchanged and maintains its bullish outlook. With the December 2011 low

at $1522.8 and May 2012 low of $1527.0 cleared this week, the focus now shifts

to $1587.0. This is the 61.8% retracement of the 2011 to 2015 decline.

Overbought conditions in momentum continue to provide little concern for bulls

and this in turn reinforces the underlying bullish theme. Support lies at

$1479.7, a break would allow for a short-term correction.