I had a short conversation with a gold bug yesterday who told me he thinks gold is going to $4000 and then said he's managing his retired mother's IRA. Please pray for this woman.
Prayers didn't work. Gold has declined from 1700 to 1300. . . . it is after all a commodity, and with oil/fuel pretty much holding in the $4/gal diesel price, and large scale mining achieving record efficiencies which have made many low-grade deposits "profitable". . . . . Gold may sag to $1000 or even less with lots of profitable production even at that price. How much gold can we eat, anyway?