gold set for a 20% rally!, page-28

I'm convinced that gold will continue its decline to below $1,000. That the cost of extracting the stuff is more than that is neither here nor there, all the gold ever mined is still here and is recycled on a regular basis.

Booms are invariably followed by busts and vice versa, the US will not default (it could sell gold to pay it's way to buy time), never has, never will, for all of US history politicians have been keenly aware of US full faith and credit and that the USD is the reserve currency.

Boom times aren't far away and IMO precious metals will become largely irrelevant and sink to very low levels, but iron ore, copper, zinc etc will be in great demand as the world makes up for 6 years of the worst recession in decades.

Reasons:

US will not default.
US Mint is minting the lowest amount of gold in years.
ETF's are selling gold. (SPDR gold fund 2 tonnes/day)
Banks and commentators advising clients to sell
Gold mutual funds & ETF's the worst performers in the USA
Gold sentiment points to more losses.
Investors dump poorly performing gold stocks for others.
Asian punters will bail out as losses accrue
The taper
Increasing interest rates.
Stocks have thorughly trounced precious metals recently.