us$1000 gold ... this time it's different

Have a think about when gold hit $US1000 last year and again early this year. Think about how briefly gold was above $US1000.

Last year there was a savage correction in the gold price. After gold hit US$1000 early this year the correction was mild ... gold was only back to the US$900s.

Now compare with when gold recently hit US$1000. Gold was able to stay over US$1000 for a week or so instead of immediately being knocked back and locked in the below $1000 box.

Gold was then briefly pushed into the low $980s and has now promptly bounced back over US$1000 instead of staying below US$1000 for a decent period of time which happened on gold's previous two challenges of US$1000.

Gold is gaining strength and momentum. Supported by large buying of physical gold from Governments such as China and Russia, the paper shufflers at Comex are unable to win. They can no longer hold gold below US$1000.

This time it's different.