Gold’s dip yesterday beneath a 934.90 pivot is not a healthy sign. The actual low was 932.20, and that’s enough of a breach to suggest more weakness ahead. The bearish outlook for the near term would be diminished — though not negated — by a rally exceeding 950.40 overnight, since that would create a bullish impulse leg on the hourly chart. However, we won’t breathe a sigh of relief until the futures exceed Wednesday’s 979.70 peak — and the sooner the better.