The selloff from yesterday’s highs was brutal, but the day must be viewed as net positive for gold, since the most robust portion of the rally surpassed two prior peaks on the hourly chart before slipping back. Night owls keen on bottom-fishing should try it around 738.00, the nearest Hidden Pivot support below. (Note: There’s a midpoint at 744.70 associated with it, and if it holds, providing a base for a move to 754.30, that would be very bullish for the near term.) _______ UPDATE: The futures broke below 738.00 easily, a negative sign that augurs further deterioration to at least 723.30. The weakness must stop there or else, since any lower and the December contract will be in jeopardy of taking out two “external” lows on the hourly chart at 717.10 and 707.00.