Xau/Usd : One more decline?

Remember in the last update for xau/usd the title was byebye gold!, at the time gold was around 1800. Since then price has declined to below 1532! The question now becomes if this decline was a complete wave Y or if its only the first part of wave Y. Judging by the size of this decline compared to the size of wave W, chances seem greater that there will be another leg lower.