Just a guess. The option expiration today was interesting. A lot of put options (~20,000) closed in the money today over $1400. So there are going to be people with cash to buy low here and drive the price higher if they want to. The put option gives them the right to sell a future for a higher price than the current market. If they have it, they can sell high and buy a cheaper one now. If the option holders don't already have a contract, they will need to buy one in the next three days. Should provide some bullish action because there were hardly any calls in the money below $1340.
Many times when there are a lot of call options in the money at OPEX, the price will fall into the beginning of the month due to selling by the option holders. Usually they don't want to hold the contracts and so they dump them. Put holders will have to buy first and then will be selling to a buyer that is stuck with the contract at a higher price than the market. Those buyers may decide to hold the contracts rather than sell now at a loss.
If gold did bottom at 1186 and the recent top in August was the end of a five wave move up then maybe we finished wave two down this week. If so then the next leg could be about 1.68 * 250 or roughly 420 points from 1280. Course that is just rough guessing and then the time frame should be around 3.3 months to make the move. I am assuming it follows the red channel.