XAUUSD (1322.40): Gold prices remained muted to the Italian election outcome yesterday. However, price action is seen trading within Monday’s range at the time of writing. Following the brief retest to the resistance level at 1328 – 1327, gold prices edged lower only to reverse some of the gains. A breakout above the resistance level could keep gold prices biased to the upside with the potential to target 1357 level of resistance. To the downside, gold prices will need to close lower below 1317 to post the declines toward 1303.
