rod178, they appear to be quite conservative in their forecast...

rod178, they appear to be quite conservative in their forecast and it is wise to be so, at least in their public utterances. They may be saying to each other "more like $1,500!"
If China really does come aboard as everyone seems to be predicting and if jewellery demand returns to normal levels, where is the gold going to come from? Some perhaps from recycled gold as they say but maybe not nearly enough. Only a higher price will dampen demand to fit supply levels.
This means our gold companies will be working flat out and new reserves coming on stream faster than anyone imagined.