XAUUSD (1280.25): Gold prices were seen drifting below the 1282 handle and price action is showing signs of forming a temporary bottom between 1282 and 1274. The reversal off this level could once again put gold prices to trade within 1301 – 1304 level of resistance while to the downside, the declines are likely to be limited near the 1274 handle. Gold prices are likely to remain in the sideways range for the moment.
