XAUUSD (1207.51): Gold prices extended strong declines on the day as price action fell below the support level of 1219. In the near term, gold is expected to trade sideways as it approaches the 1207 – 1204 region. The round number support at 1200 could keep the declines limited for the moment. Gold is expected to now trade within the range of 1219 and 1200 region. A breakout from this level could, however, set the stage for the near-term direction in price
