gold reaches new record high !, page-23

With regards to the future floor price for gold the best technical estimates i have seen show gold at AUD $7,000. This tends to show that gold will appreciate far faster against the USD and Euro than the AUD.

The figure is estimated using both the relative devaluation of the currency against gold, along with the historical average property to gold exchange ratio (silver is set for a big upside as well with a floor level around AUD$400p/oz). However this would also imply that average Australian property prices could fall to 1980's levels which would be about a third of what they are now.

Should house prices remain roughly the same in cash/AUD (say from a hyperinflation style environment) gold/silver can be expected to rise a hell of a lot more. I have seen Gann analysis of possible bubble prices above and beyond AUD$25,000.

Also if anyone is looking for some great macroeconomic commentary then have a look at Gordon T Long. http://www.gordontlong.com