* Gold could touch $1,320 per ounce - Aug 22 (Reuters) - Gold fell on Monday to its lowest in nearly two weeks as the dollar strengthened after comments from U.S. Federal Reserve officials increased bets on a U.S. rate hike this year. Spot gold XAU= was down 0.6 percent at $1,332.80 an ounce as of 0642 GMT, after touching a low of $1,331.35, a level not seen since Aug. 9.