XAUUSD (1204.11): Gold prices were seen falling below 1204.08 level of support on Monday. However, the declines could see a short-term rebound in price. Gold prices will need to recover above 1204.08 to confirm the upside retest of 1223.50. A retest of this level for resistance is pending. Alternately, a continuation of the decline to the downside could push gold prices lower toward the next lower support at 1186.60.

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