A break of this area will see a drop to trend line support at 1366, though the uptrend remains intact with the bottom boundary of the uptrend channel currently at 1338. The yellow metal needs to reclaim the steadily rising 20 DMA at 1380 to maintain the upward momentum and this level will be keenly watched by traders today.
Oil is down sharply as Syrian tensions recede for now, though an explosion to the upside is a constant threat with oil in the current climate - gold would follow any surge higher in oil.
Equities have started to move higher after a correction last week, again diverting funds away from gold and other commodities. The dollar fell sharply yesterday and is struggling to maintain momentum from last week's attempted rally.
There is little in the way of data to excite the markets today or for the next few days, though a series of important data releases are due on Friday. We may see little movement in the markets until then, unless events develop further in Syria.
Today's video for subscribers looks at the recent trading in more detail and our strategy for our next trade.