XAUUSD (1295.99): Gold prices posted a rebound after testing the 1280 handle once again. The retest of the support level has sent gold prices rising to test the previously established highs close to the 1295 region. It is likely that the precious metal will once again attempt to test the 1300 round number resistance. We expect the rally to show exhaustion around the current levels and could keep gold trading within the 1300 and 1280 range for the moment.
