I think that the gold bears are missing the salient point that that gold supplies are becoming increasingly more difficult to find and when they are mines have a long lead in time to eventual production. Also gold more and more is being treated as a currency rather than a commodity this coupled with the fact that the gold price adjusted for inflation is nowhere near the much heralded "all time high" reports.
luch-kent

L.O'Brien, Ash, UK

Gold could go much higher than $1200 during 2008. Once people understand the extent of the financial problems around he world and the currency issues they will be standing in line for gold.

om, San Francisco, Ca

Those that say " gold will not go to $1200 " , ... are the same people that said that "oil would not go to $100./barrel" ...Sooo, If oil was under priced at $ 50./ barrel then gold is waaaaay.. under priced at $ 850/oz....!! I look for prices over $2000./ oz.

j miller, owen sound, Canada

Fiat currency all in time inflate away.Say good by to the dollar , the pound , the euro etc. here comes gold and other real things.Gold is a store of value .The politicians have printed so much paper currency that it has sub primed its value.What can one do ? Look at history.First the currency then the government .One can not missmanage forever.Gold backed currency keeps the government from printing to much paper.If gold back currency again it would have to be worth many thousands of dollars per ounce to back all that printed paper .It seems to be headed in that direction.

gage bailey, boston, usa ma

Ross Norman forecast that the average price of gold in 2008 is likely to be about $950 an ounce, and the year could see prices spiking as high as $1,150. “It might possibly even touch $1,200,”

sorry but that is not going to happen. just look at what this people predict during the gold raised in 2006 and what actuary happen by the year end.

average of 950 in 2008 is not going to happen neither the hight of 1200. all people like Ross Norman doing is just trying to get people to buy gold during the unusual height price so that people like him can make the most out of it.

noway, tokyo, japan

Not only USA dollar has collapsed, but all other currencies.

All in our society is indignant, not trustworthy, fraud and deceit.

Joseph Scumpeter's profecy has come true the inevitable collapse of capitalism based on fiat-valutas.

René Cohrt, Virum, Denmark

The way that Central Banks continue to print fiat currency will ensure the continued rise of gold.

I just it would dip down towards $800 for a short while before it takes off again :-(

Paul Price, Newton-le-Willows,