Gold has fallen as expected, although to the lower boundary of the zone. I think there will be a stong reversal off this level. There can always be an overshoot in volatile situations like this, but it shouldn't change the reversal outcome. Let's see what happens as we move through the day.
gold is down because unemployment dropped, which increases the likelihood of QE3 being tapered. If the fed does announce a tapering of QE next week then gold will be down even more, and take MUX with it.
The only reason for a reversal would be if the fed announced they are NOT tapering