XAUUSD (1311.59): Gold prices were also seen closing the week lower but overall, the trend remains supported above 1307. Only a breakdown below this level could signal further declines toward 1282 – 1274 region. In the near term, the 4-hour chart shows a possible retest toward 1318 – 1317 level where short term resistance could be established. A reversal at this level could confirm the downside bias in gold targeting 1307 and eventually to the 1282 level of support.
