XAUUSD (1200.58): Price action in gold remains subdued as the consolidation continues near the 1197.50 level of support. However, given the failure to post lower highs, we expect to see a turnaround in prices. To the upside, the target remains at 1219.75 while to the downside, a breakdown below 1197.50 could trigger declines to 1183.30. The trend is flat at the moment, but this could potentially change on a strong rally if the previous high at 1212.55 is breached.
