Gold continues to drift lower following the sharp appreciation on Friday. Clearly this was a safe haven move and as such, it is likely we will see further gains for gold around the corner. The key level of support here is $1307, which appears unlikely to be broken.
As such, a rally seems likely to occur soon, with an hourly close below $1307 required to provide a less bullish view. Key resistance levels are at $1330 and $1336.