The price of gold still testing the upper band of the declining channel formation, forming at the same time a small symmetrical triangle. As the price is reaching the tip of the triangle, we are expecting a break out from the triangle and therefore channel any time soon. If the price breaks to the up, 1217 and then 1225 will be a target is short-time. After that 1232 would be a target. For the downside movement, 1204, the base of the triangle will be a strong support level, but if gold price falls further reaching over-1-year lows.