Gold price remains in a bearish trend and despite the pause in the decline from $1,290, I expect price to move lower over the coming weeks as the weekly chart shows more weakness should be expected towards $1,200.
Blue lines - bearish channel
Gold price is trading inside the bearish channel and below both the black trend line and the Ichimoku cloud. Support is at $1,245 and resistance at $1,260. Breaking below support will push price towards $1,220-30. Breaking above resistance will push price towards $1,275.