Gold has been under pressure due to the strong economic data in the US.
The support rests at 1295.31 with resistance at 1299.14 which the weekly pivot point at 1296.93 is located in between the lines. The EMA of 10 is moving with bullish bias in the horizontal channel and it is below the EMA of 200 and above the EMA of 100. The RSI is moving on the 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the negative territory. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1290.

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