gold forcast of below 800, page-74

I am no expert in gold,I have done a search on the net and here is what various reputable organisations have as there 2012 forecast:

Deutche Bank 2000 in 2013
Barclays 1716
Canade Scotia Capital 1750
CIBC 1700 2000 in 2013
Merryl Lynch 1710
Goldman Sachs 1840
Bank Of America 1710
French Bank BNP Paribus 1775
Morgan Stanley 1940
Newmont Mining 2550 in 2013
Sociate General 1700
Standard Charterd 1975
TD Securities 1700

Are they all wrong?

Other facts I found are that at the end of 2010 central banks became net buyers of gold.Chinas economy is backed by about 2% gold.They hold billions of dollars in US bonds"the worst horse in the glue factory.They are buying more gold.Korea and Mexico and new countries buying gold.

The investment sector accounts for about 40% of gold bought.This used to be split 50/50 between gold securities like EFTs and physical gold.Now nearly 80% of investment gold is physical gold srored in vaults.As further worry is placed on the Euro and the USD more are turning to gold.

Jewelry accounts for about 10% of gold demand which will weaken somewhat,reduction in tarrifs in India may increase demand and demand has increased in China.

Production of gold is fairly level maybe a growth of 3%.You can only dig gold out of the ground once and only so much to found.For example in 1990 South Africa produced 26.4% of the worlds gold and now they produce only 7%.

I make no prediction where gold will go just presenting a few facts.