The June Gold Contract closed at 1294.90 on Friday after trading a dollar shy of the magical $1300 level. Since last Friday’s close, Gold has risen $61.20 or 4.96%. While it’s too early to say if Gold will have a difficult time breaching the $1300 level, it is a good opportunity to examine the market. In a similar pattern, also this week, the June E-mini S&P Contract breached the 2100 level and traded as high as 2105 before settling at 2097.25 on Wednesday.