GOLD: With GOLD continuing to hesitate below the 1,224.oo level, we think it should weaken in the new week. Support comes in at the 1,190.00 level where a break will aim at the 1,178.39 level. A cut through here will open the door for move lower towards the 1,170.00 level. Below here if seen could trigger further downside pressure towards the 1,150.00 level and then the 1,130.00 level. On the upside, resistance resides at the 1,200.00 level where a break will aim at the 1,215.000 followed by the 1,224.00 level. A violation of here will turn attention to the 1,250.00 level followed by the 1,170.00 level. All in all, GOLD faces downside threats below its key resistance in the medium term.
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