The precious metal is moving higher as expectations are that the Fed will not move the interest rate higher this year. The Chinese growth number had very mixed message and you cannot say if there is any bottom or the growth will continue to slide. So, what is more important for gold is two folds. Firstly, it is the Q4 guidance by the US companies and if the aggregate number does show more sign of stability, it will give more confidence to the Fed about the health of the economy. Finally, it is the economic data itself, especially the job number.
In terms of technical analysis, we have broken the downward wedge pattern towards the upside which is a bullish sign. Moreover the momentum indicator, the MACD is confirming that the price has momentum behind this move which is a further sign of confidence for bulls. The resistance is at 1191 and the support is at 1151.