According to the daily chart, if the price of Gold reaches 1243 (Fibo 0.23), this will be a sign of retracement at 1205 (Fibo 0.38) in the medium term. When the price hits 1243, the MACD and the stochastic oscillator will also confirm this retracement.
The price is stuck into the range 1240-1280 on the 8 hour chart. When the price reaches level 1240, this will be a confirmation of retracement on 8 hour chart. The price will break the intermediate trend line and this also indicates a retracement in the near term.