Gold price fell during the course of May and is expected to drift lower in June. According to the daily chart, the price might fall below 1276 (Fibo 0.38). The downtrend is indicated also on the weekly chart, because the RSI oscillator stays below 50. The price level reached EMA 200 on the weekly chart. The Gold downtrend is underway in the near term.
However, Gold might go up in the medium-long term. A possible breakthrough is at 1312 (Fibo 0.23), according to the daily chart.