the market action over the last few days is typical of a...

the market action over the last few days is typical of a 'blow-off' (finally penetrates a barrier - in this case the $US1000/oz mark) - immediately followed by a dramatic reversal - these often occur at market tops

confirmation will occur when gold does rally next and if it fails to break the previous high - should exit any long positions on that peak (as it reverses)

difficult to know how soon that rally will come tho and what action you should take depends on your trading style -if you're a long term investor you should wait as it could just be a medium term pull-back