Gold - Losses likely below Asian session low

· Gold’s retreat from Friday’s high of $1284 ensured the down trend on the daily RSI remained intact. Consequently, a retreat below Asian session low of $1275 would open doors for a $1261.90 (Friday’s low).

· On the higher side, only a daily close back inside the sideways channel would suggest a short-term bottom is in place and thus could yield a revisit to $1300-1310 levels.