Gold: Will it get to the one thousand dollars per ounce?

Gold continues showing some weakness as the Dollar keeps strengthening, but there are also other factors that are affecting the price of the precious metal like an excess of gold reserves and low demand. At the moment, the 1071 level has served as a good support, but the actual consolidation could be just a resting zone for the price to continue going lower. An actual rate hike by the FED could cause the Dollar to continue rallying and gold to continue dropping. In such case, it is possible for gold to come and visit the one thousand dollars an ounce level. The 55 day EMA continues getting apart from the 200 day EMA, which indicates that the downtrend is still in place. Since markets never go down or up in a straight line, it is also possible to see a retracement to the 1131 level, which could act as support.