The rally was stopped at the newly developing down trend resistance line, however gold is again trading above the 20 DMA and 200 hour MA at around 1255.
It is interesting to note that gold continues to react with most sensitivity to moves in equities, with rallies in gold developing as equities fall and vice versa.
The dollar remains above the key 81 level and if this becomes a solid base for a dollar rally, gold could be in trouble. This bears watching, as of course do equities and oil.
Support can be found at 1250-1255, 1237-1240, 1220-1225, 1210, 1200, 1188-1190 and 1180. A break of 1180 would have serious bearish implications for gold and suggest a decline to 1000-1050 in the short term.
Resistance can be found at 1268-1272, 1277-1280 and 1291-1295. Holding support at 1250 and a subsequent break above 1279 would suggest an end to the intermediate term down trend, though it would take a close above 1300 to confirm a more significant rally was developing.