6:28 am PST. Gold is now testing the breakout of the ascending triangle pattern at 1260. Gold has to close above $1300 on a weekly basis to see a real sustained rally leaving behind any notion of a possible breakdown below $1000. If it fails to do so, gold could go back down to test $1220, and then the pattern will completely change leaving open the door for the possibility of a further break down to $1000.