With gold still trading below its key resistance we envision a move lower in the new week.

On the downside, support comes in at the 1,330.00 level where a break will turn attention to  the 1,320.00 level. Further down, a cut through here will open the door for a move lower towards the 1,310.00 level. Below here, if seen, could trigger further downside pressure targeting the 1,300.00 level.

Conversely, resistance resides at the 1,340.00 level where a break will aim at the 1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at the 1,370.00 level. All in all, gold looks to weaken further on correction.