So, what the chart of Gold does tell us? (I use data from Oanda, futures market charts are quite same).
On the first view, the eye catches up-trend wave (blue lines). But let's take into consideration volume and its relation with price action.
1) On 13-15/August, we had a spike of volume (red vertical zone). I always stick to high spikes of volume in order to for the story from chart. I plot the red horizontal line at the high of those days - 1535. Since that time we had several attempts to overcome 1535 level.
2) The first attempt. Volume is massive, close on the low - not very optimistic. It is more bearish sign revealing the heavy supply above 1535 level.
3) Next attempt. Close on the highs, but we have only tiny penetration of the previous high #2. Low volume represents the lack of sellers.
4) Next day is big red down bar. There is an important thing - volume. It increases on down bar. You have no bar like this on the chart. 05/Sept was a day when Sellers did appear - they gained a big result actually. This is Bearish change of the character. Supply impulse was too powerful to push price toward the low line of the up-wave channel. On those levels, market has found a bullish party, but...
5) ...after 3 green up-days (20-24/Sept), we got wide down bar (yesterday). It fast erased the progress of previous up-bar and moreover - it formed another attempt to breakout above 1535 level.
So, price is approaching back down to support. The unwillingness of market to bounce from support line - a sign of weakness.
Taking into consideration mentioned above facts, we can build the following opinion. Definitely, 1535 is a powerful resistance. It was started by the 13-15/August extra-high-volume days. So, current Range 1478-1535 could be interpreted as the Distribution Range. If price refuses to breakout on higher levels, it should be interested in breakdown.
BTW, Some analysts can find Head & Shoulder (SHS) pattern here. Let it be the confirmation of the Distribution opinion.