XAUUSD (1184.70): Gold prices fell sharply on the day easing to 1183.30 level of support. Price action is currently consolidating near the current standards and we could anticipate a potential move to the upside. The resistance level at 1197.50 remains the target to the upside. Gold prices could maintain a sideways range within the said levels. The bias is however likely to shift to the upside in the near term, subject to the resistance level of 1197.50 giving way.
