Many people are banking on September being usually the best month for gold - and for all the right reasons:
Geo-political crisis may ease - and gold will need to show that it can support itself without Ukraine and Russia providing support.
In summary, I do not see much of a downside here and we could see a breakout to the 1400-1500 range very soon. Long gold! Shorting gold is an 'old' idea that will fade away very soon.