Russia reported overnight that ballistic missiles were fired in the Mediterranean, which led to some concerns that a strike on Syria could be getting underway. These launches turned out to be Israeli missile tests, but the bottom line is that until the Syrian sideshow is behind us, we can expect continued volatility.
(Read more: Russia raises alarm over Israeli missile test)
Gold found itself sliding into the open on Sunday night of the holiday session, reaching a low of $1,373.60. The market stabilized quickly, and hugged the $1,391.80 lows from Friday for most of this long session.