Gold appears to have stabilized around $1800 So gold looks fairly solid around $1800 although it could slip a bit more but I think this downturn in gold and gold equities will be short lived and in a matter of weeks it will start to recover. The Fed may only have one more rate hike as the economy is already going into the dumpster.
And watch out if they have to actually lower rates later this year or early next year. If that happens the USD will be dropping rather quickly and gold will be taking off. Personally I think it will happen very soon and the September to December timeframe will see big gains for gold and gold equities.
Higher food and energy prices are taking a toll on the consumer along with higher interest payments so the Fed will have to reverse course quickly as the economy will be in a recession having had two consecutive negative quarters of growth. Our day is coming for a major rally in gold and gold equities. Just a few more weeks of misery to get through and we should see the light at the end of the tunnel.