Gold flirting with technical support level again- will it hold?

On Friday the price action in Gold seemed to defy the odds again, despite taking another (noted) fall below its 100 day moving average. That was in place on Friday at $2,616.15. The reported low was set at $2,611.73. An update here at the time noted that it needed to make a sustained recovery back above that 100 day moving average in order to avoid the threat of more downside. Well, that is exactly what Gold eventually did. Once it reclaimed that level, it defied a firmer dollar and higher US yields and lifted from a later session low, at $2,612.85, to rise above $2,620 and later close out the week, at $2,621.40. Beyond the near term price action, the topside is still guarded by the 50 day moving average, which is falling and in place now at $2,663.35. At the same time that 100 moving average is still rising and in place this morning at $2,618.05. So, as noted a few times previously, that means we have convergence and eventually this will lead to a more decisive break-out of the range. As to whether that happens this side of the New Year is another matter though. So, overnight Gold has edged back from an earlier high at $2,628.14. The low prior to that was set at $2,619.70. It has just now hit a fresh session low, at $2,618.44. So, as you can see, the price action so far today has just about rejected another drop below that 100 day moving average. It remains to be seen if that will continue. Gold is currently trading at $2,618.75