Nadlers Kitco newsletter is worth a read (I'm not sure he is the enemy so much as a more domesticated and less tempermental gold bull if there is such an animal) He reports that a poll of gold industry workers see gold about where it is now or maybe down a bit in USD for 2009 Thats OK - you are still a big winner holding gold in a mint or under the bed or in the ground unless you want to bet on cash, bonds, the sharemarket, or other paper assets. IMO -everything else could deflate a lot more. And then there is the risk of a financial implosion if not next year then coming to a reserve bank near you soon. And then who knows when inflation is going to take off (if ever) So buy gold and gold mining shares and just be patient!