XAUUSD (1263.08): Gold prices were muted yesterday with price briefly rising on an intraday high before giving up the gains. Price remains steady near the support level of 1262 region. The Stochastics oscillator shows a bullish divergence that is forming. This suggests a near term correction towards the 1274 level of resistance. However, gold prices are expected to remain trading flat in the medium term within the support and resistance levels mentioned.
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