The trade tension between the US and China is putting gold under pressure.
The support rests at 1271.84 with resistance at 1278.97 which both lines are below the weekly pivot point at 1285.43. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing buy signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing and the Kijun-sen are both showing a horizontal trend.
Gold will continue its bearish trend towards 1260.