Gold Hits Highest Level Since June 5th. Next Stop $1,000?

While movements in gold over recent weeks have been overshadowed by the spike in equities, the commodity has quietly rallied to levels it hasn't seen in nearly two months. As shown in the chart below, the price of gold is currently at its highest level since June 5th. Just as the S&P 500 has little in the way of resistance between 1,005 and 1,100, from the looks of the gold chart, there aren't any roadblocks between its current price and $1,000.