I find it laughable when folks talk about the fundamentals and gold going down to acceptable levels at $800, scrap gold being traded in and competing with gold produced globally from mines thus impacting the price of gold, gold orders dropping for jewellry thus lowering it's demand and therefore value. In the same articles they never seem to mention the most important fact that many countries operate on paper currency that essentially is worth nothing except for the misguided notion and carrying on of the belief that it has some intrinsic value. Gold is achieving it's present value owing to the lack of faith in what we have called money. The fact that some powerful fingers move in to create momentary sleep modes in the price of gold as the nervous nelly penny grubbers spasm into action to claw every microbe of profit they can muster at every turn of the sp, doesn't change the facts that countries are in debt for billions if not trillions and really don't have any idea how to fix the problem other than to print paper and keep people believing that they can continue as they have in the past and gov't will fix the problems and make sure they have jobs, three cars and a television and cell phone for each family member so that they can text each other from their respective rooms. Could gold go to $800? Anything could happen but as has been said by many, one has to look at the big picture, not the little dots or strokes of paint that by themselves do not constitute an accurate image. At the very least, we have interesting times ahead.