XAUUSD (1323.28):Gold prices continue to drift close to the 1328 level, with Friday’s price action seeing the precious metal erasing the intraday losses. We expect this consolidation around 1328 to continue in the near term but the bias remains to the downside for a re-test of 1303 level of support. Gold prices are likely to maintain the range within these levels with further gains or losses coming only on a breakout from either of these levels.
