XAUUSD (1231.48): Gold prices were seen moving higher but overall price action remains subdued. The precious metal is expected to maintain the range within 1242 resistance and 1219 support. Further gains or declines are likely to be maintained on a breakout off this range. The bias remains to the upside if price action can break past the resistance level of 1247 – 1242 region. To the downside, a close below 1219 could see further declines pushing the precious metal down to 1200 level of support.
