Some downwards movement for the very short term was expected by the preferred Elliott wave count. This is exactly what has happened to end the trading week.
A small bounce continued as the hourly Elliott wave counts expected. Price remains within the channels.
The target for more upwards movement was 1,277, but it has not been met yet. Price did make a slight new high.
Sideways or slowly higher movement was expected. Tuesday has completed an outside day and Gold appears to be developing a small trading range with resistance about 1,265 and support about 1,245.
Upwards movement for the main Elliott wave hourly chart was expected to reach a target at 1,240.
Price moved higher as expected to reach 1,241.99.
Price has moved lower and remains within the channel drawn on both the hourly and daily Elliott wave charts.