Yesterday I mentioned the 55 dma support around 1327 which was giving the not so shiny stuff a little support, and Ryan highlighted the breach in his post later

We’ve seen further losses this morning getting close to the 1306 level that Ryan pointed out and there is further support at 1300, 1280 and 1272

Currently 1311.45 it’s becoming a better value trade to buy down here but caution must remain ahead of the Fed next week.

Gold chart H1 13 September 2013

Gold H1 13 Sept