XAUUSD (1268.25): Gold prices were seen posting a modest rebound after price fell sharply to fresh lows of 1262.50. Any reversal is likely to be seen with the resistance at 1274 holding the gains. We expect gold prices to continue consolidating below the 1274 handle with the potential to post further declines on a close below the 1262.50 lows formed recently. To the upside, a close above 1274.50 could signal a move toward the 1282.50 handle.
