Gold is currently testing the upper limit of its medium-term bullish channel to 1463 suggesting a decline in the short term. However a break of these levels would allow it to begin a more violent rising trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1463 with a 1st objective of 1473, then 1475. A break in 1461 would invalidate this scenario.