Gold is currently trading around $4,154, and what is worth noting is that the price is still consolidating above the $4,112 area after the recent sharp decline from the $4,238 area. In general, the larger trend is still bearish as gold is below both the moving averages and the bearish trendline, and the recent upward moves are failing to break above the nearby resistance levels.
An initial area of resistance is seen at $4,160. If that level is broken, then the next resistance is seen at $4,190, and further above that is $4,214 and the previous recent high at $4,238. On the downside, the $4,112 level is the first major support, and below that is the $4,073 and $4,030 areas.