If I may throw in a couple things here. First off, does anyone see any real end user demand increase? That being the jewelry market? YOu can come up with reasons why people may horde gold, but it is still there, not "used up". It is there to be traded back and forth and come back into the market. Not like oil, grain, or even most base metals.

Gold may very well go up. It may go up a lot, but I think Jeff Rubin was also talking 200 dollar oil too. 148 was high, but I bet he isnt gonna see 200 in 2008 (not going out on a limb).

The US government controlling gold price. I won't even ask for proof. But if it is true, why would they stop? Has Obama stated that he will let gold trade free of this manipulation?

I don't like coming out as bearish on gold, as I'm not. I think many of those who are very bullish on gold are under some mistaken beliefs that border on urban legend, like there being a "real" gold price and a "paper" gold price, that the futures market is a sham and will collapse, that increased money supply automatically means gold being more valuable.