GOLD: With the commodity breaking and closing above its 2010 high at 1,251.88, threats of further strength is now expected towards its psycho level at 1,300. The current break higher is coming on the heels of a fourth week of upside gains since Gold turned off a low of 1,166.03 on May 21'10 low. On a convincing violation of the 1,300 level a run to the upside towards the 1,350 level, its psycho level should follow with a cut through that level turning attention to the 1,400 level and then the 1,450 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, downside objective is located at 1,251.88 followed by the 1,214.85 level ahead of the 1,200 level. Overall, with Gold breaking through its 2010 high, further strength is likely towards the 1,300 level and beyond.