[PolicyCoon]

• Gold has never in history posted a weekly close above the psychological $1,000 level
• We could be looking at a push higher in Gold that above the technical resistance in the $1,005-1,031 level could open up a move to at least $1,340 possibly by Q1, 2010.
• There is no reference point for Gold on this psychological $1,000 level but we do in platinum.
• The first ever weekly close above platinum took place in Jan 2006 and by May of that year we had surged to $1,336.
• The only other time Platinum rose from a significantly lower level to close above $1,000 an ounce was in February this year and it almost hit $1,300 by June. A weekly close above $1,340 would suggest further acceleration in this.
• Some other interesting points.
• Within 2 years of making the first weekly close above $1,000 platinum hit a high of $2,290. This bull market in Gold could replicate the percentage seen in the last bull market which peaked in 1980. That move low to high was 764%($101-873). A low to high move in this bull market for Gold equates to a price of $2,175…($252-$2,175) very similar to that seen in the platinum move.
• On 9/11 2008 Gold stood at $736 (Albeit after a correction lower). 9/11 turned out to be the day that an impulsive rally in Gold began that saw it $195 higher within a month and helped drag EURUSD from 1.3880 to 1.4870 over a similar period.

The day is young and Gold may not get the weekly close above $1,000…but if it does it would seem to add fuel to the bullish view.