Gold can fall to the level of 56097 with a small resistance at 56815 in the short term. Short term is negative on Gold and can wait for level 56000 to buy if it consolidates at this level. Otherwise buying can be seen only at 55000 level in short term as of now. This is for the short term and will wait in case further downside is seen even after reaching the 55000 level in the short term.
Overall sentiment in gold is negative, good news related to the share market or positive in the IT/Banking sector will have a further negative impact as buying in stocks will emerge after a long downward trend.