Bloomberg - Gold at $800 ? Another says 1200 another says 2500 next year

gold at $800/oz - if that happens, which is highly unlikely in my opinion, maybe we should buy with both hands?
I see the first few months of 2012 being tough for commodities and stocks as well, but inflation will kick in again.

Just looking at a weekly chart of gold, it seems to be wanting to break its 50 week average of $1500 or so, with $1200 as the 200 week area next support.

Now for the predictions, which there are several

Things are just fine, no recession, gold to crash back to $800 area
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Slightly deflationary, gold back to $1200 area
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When inflation returns? Gold to $2500 next year
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Gold went down b/c of margin hikes, shorts and infusion of khadaffi's gold on the market.

I also suspect that the EU banks are readying to raise capital - if not selling now.....

Will European central banks sell their gold?

....and some feel that the Dollar is stronger.
when all seems lost, the ben brenank dons his cape and saves the day
same o same o

Gold will never fall below $1000 a oz and silver will never fall below $20. How can i predict this? its simple...the production cost for a oz of gold is around $750-1000 and $15-20 a oz for silver. While im sure there are many leaders who would love to see gold and silver fall below those levels if physically just cant happen. No mining company will sell gold/silver for less than than their mining cost. If it does fall below those levels all suppliers will pull their stock pile of gold/silver they are selling creatring a shortage and the market will quickly correct itself.

With that being said $800 gold is never going to happen. $1200 is def possible especially if the global economy slips into a depper recession. $1500 is most realistic and is what i would consider a fair price for gold. Anything $2500+ at this time is wishful thinking, its certainly possible with the right conditions, for example more QE by the EU or US could cause the price to jump as well as bad policies which cause people to loose faith in currencies and return to sound money (gold and silver)

But in all honesty if we see $2500+ gold you will also have $10 gas, $10 bread and milk, $5 for a can of corn as well as massive regulations on PM, how and whereyou can buy them and probably massive taxes on any gains when selling them.

Once the charade of the nomination is over and the GOP picks Romney - say he somehow beats Obama, I am hoping for a temporary calming breath to be taken and gold to dip hard. I hope it does, because I will buy like a fiend too.

Should Obama be reelected, I think it will go up - in which case I will sell a bit and finish paying off my home.

I hope we see another dip or atleast continue to have these prices, i personally think the fundementals for owning gold and silver have not changes, the onlything different now is that its all on sale and is a great time to buy, especially for folks like myself who got into the game late and were lucky enough to buy back in the early 2000s when silver was $5 and gold was $300

My interpretation of why gold sold off so strongly toward the end of the year is because selling gold was the only way the hedge funds could raise enough money to show a 10% gain for the year at year's end. They couldn't do that by selling their equity positions because the DOW was only up about 5% for the year and the S&P was flat. The Nasdaq was down slightly. That left gold as the only play where these high priced money managers could justify their salaries.

My view is that by the end of January gold will be higher and the DOW will be lower.

Gold was manipulated downward by the various central banks, big investment banks (that oversold their PM supply), the Presidential Working Group on Financial Matter/Plunge Protection Team and Comex. By raising margins, short sales and the selling of over 141 tons of Libyan gold the prices of PM were driven down.

The basic reason why PM went up, the devaluation of paper currency, still exists. When the Euro dies, the dollar won't be far behind. That is why Russia and China exchange directly (rubles for guans and vice versa), the Chinese with India (rupees/yuan), Japan with China (yen/yuan) and China and Iran. All these nations bypass the dollar since they know it is being devalued.

Be happy the price was manipulated down. You can buy it cheaper.

Last day of the year gold prices: 2000 = 274.00; 2001 = 279.00; 2002 = 348.00; 2003 = 416.00; 2004 = 439.00; 2005 = 519.00; 2006 = 638.00; 2007 = 838.00; 2008 = 889.00; 2009 = 1097.00; 2010 = 1420.00; 2011 = 1566.00. Remember - “A trend in motion will remain in motion until it is stopped.”

How did Bloomberg's predictions for 2008, 2009, 2010, and 2011 pan out? Use that to figure how much their 2012 predictions are worth

any large dips, like recently, in gold and silver are buying opportunities imo. I see no chance of avoiding a global financial meltdown, and the FED will print until they run out of paper and/or ink (guess thats harder to do if its just 1's and 0's on a hard drive) trying to prevent that. Just check long term gold and silver price charts and you can clearly see the long term pattern is up, and pullbacks like this are normal. Using the volatility to trade paper gold and silver can also be very helpful.

With all the downgrades in Europe last friday you would think gold would drop today on the strengthening of the USD. So far, it's not happening.

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