Last week I mentioned about watching how the week will close and what candle it will form. So it has formed a bearish Hammer (red bodied). Even though, it isn't sometimes considered as a reversal, I think this time it could be. Certainly, it is difficult to say right now, until we test that steep trend line, from which Gold has bounced of last week. I think that level will be key.
For now, I believe we might get a bit lower, to about 1280 level. Then we will have to re-assess the situation and have a better look on what it wants to do.