After breaking the famous 1295 levels the bulls took control and ride the gold prices over 1350 $. It didn’t last long. The Fed hawkish message and a relaxationof the international turbolences pushed gold prices again under the 1300 level up to the 1280 $ per ounce. Momentum is lost and the price will likely slide further to the 50% Fibonacci at 1242 where is located also the trend line for a possible test. Just a strong movement over the 1300 mark can revive the hopes of disappointed bulls.