Could get a nasty shakeout if the double-bottom fails... next level would naturally be the psychological $1,000 level in which the bulls would choose to defend, but a little thinking outside the box might suggest that if this double-bottom fails, the bears are going to be scratching stop-losses a bit past $1,000 the ounce!
Perhaps an odd number like 977 comes to mind!
The last time $GOLD has traded below its 200 day moving average? January 2009. I'd say we're due for a classic shakeout before the true phenomenal run-up takes place!
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