On the Daily chart of Gold, we are observing a nice three wave correction taking place with sub-wave C in final stages as part of a higher degree correction of wave B) or II). If that is the case, then gold will ideally find itself a region of support around the 38.2, 50 or 61.8 Fibonacci ratio and from there make a turnaround higher.
Break above the 1302 level would suggest that the correction is completed and higher prices may show up.