Gold has touched and moved through $900 many times thus far today. Now trading nicely in $895-900 range. Expected resistance at $900 and that's what we are working our way through now. Like someone said I have not seen this much strength in gold in a few weeks. Some have speculated that the physical run on Comex that was said by some to happen in December 2008 may actually happen in February 2009 as there was same extreme disproportionally large buildup of call option (with strike greater than $900) contracts for February. FYI... some interesting dates coming up next week that may explain some upward pressure on gold...

Tuesday, January 27: FEB options expire

Wednesday, January 28: JAN futures last trading day

Friday, January 30: FEB gold futures first notice day

Just one perspective on this to consider.

red911