XAUUSD (1232.45): Gold prices advanced strongly on the day to test the resistance level of 1238.00 before promptly easing back. The upside gains came as the precious metal managed to break past the consolidation area around 1225.35. Currently, following the modest pullback, gold prices could once again attempt to break out from this level. Failure to do so could put Gold prices back in the range of 1238 and 1225.35. There is a risk that gold prices could ease back to 1207 if it fails to find support at 1225.35.
