Fundamentally gold should be around the $900 mark inflation adjusted, there's no way of telling what it's worth but gold enthusiasm is certainly waning.
In a bubble it'll overshoot on the way up and undershoot on the way down. The XGD tells the story, declining for 2 years, gold isn't the place to be IMO, have a look at other indices, the XPJ for example, property shares are motoring away leaving gold in the dust. SGP and MGR are two I have.
BTW everybody, I'm going to work this afternoon and will be pretty much incommunicado for a few days, so if gold goes up, I'm not skiving off, I'm busy trying to cope with the boom going in international travel to and from the home of 'great depression 2'.
