...$1650/oz didn't hold - from this point previous drops to $1600/oz have come quickly...

$1600/oz looks a certainty very soon (actually $1598/oz is where I expect a short term low). I no longer see this as a buying opportunity as I don't expect this to hold and $1550/oz should follow. If $1550/oz fails then it will be time to exit gold markets and we can declare the bull over. Most commentators see the bull running for another year but more importantly nearly all see an end in sight now.