Element of victory? (4)
I believe the answer is:
gold
I believe this clue is a double definition.
'element' is the first definition.
(gold is a kind of element)
'victory?' is the second definition.
(gold can mean victory in sporting events)
'of' is the link.
(Other definitions for gold that I've seen before include "Thin sheet of precious metal" , "Colour of archery target's centre" , "Valuable metal" , "Au - metal" , "Element (Au)" .)