Gold has rallied more than $50 in the past two weeks and is now back to where it was trading when Goldman Sachs issued its bearish call on gold. However, significant resistance lies just overhead in the $1330-$1340 area:

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Gold_Daily_4.14.2014

There has been a great deal of trading activity in the $1330s since last year's massive gold crash, and price has continued to gravitate around this area despite trading in a $250 range during the last eight months.

Gold bulls will want to see a decisive move above $1350 this week, whereas, a decline below $1300 would suggest that the current rally is merely a bearish flag and price will likely have to fall below $1277 before a sustainable bottom is put in place.