Gold is closing in on the “magic” level of $1000 as other stores of value like equities are being kicked to the curb. It has just overcome $987 resistance. Technically there is not much of note at $1000; resistance come in at 1030.80, the high posted On St. Patrick’s Day last year, the first business day after Bear Stearns’ shotgun wedding to JP Morgan. The environment is not all that different today with not one, but two major US banks in the harsh glare of the spotlight today.
