The drop on gold from 2726 is without overlaps, suggesting an impulsive bearish move. This price action is expected to resume to the downside after the current wave 4 rally, which could potentially stop around 2660 later today.
One of the key currencies for metals is certainly the Chinese yuan, as the USD/CNY pair still appears to be in a small fifth wave higher. This could contribute to further downside pressure on precious metals.