Regarding the article by Toby Connor - nothing new there. He is sadly mixing fundamentals with technicals which is always a bad idea. If you are a technical analyst, you cannot possibly state that gold will never go back to $850 again.

And I've already read too many articles stating that gold will go to $2,000, $5,000, even $10,000. It all means nothing to me, because the big boys (including the Fed) can kill any bull run in one day. And believe me, if gold goes to $10,000 there will be a lot of mining companies that go belly-up, because of rapidly rising cash costs/oz. If you are a manager of a company, the number one thing you want is predictability. A gold price that goes from $5,000 to $10,000 in one year is not something you can budget for.

May I quote a random trader from Wall Street who said "If I knew the outcome of the upcoming macro figures, I still would have no idea whether to go long or short". This is the market at present. Nothing is physical, everything is imaginary. Gold is to a great extent an imaginary friend that many people have invested their money in. It is imaginary because it is online, virtual, and not in a vault. The real question is not what gold will do, I say this once again before someone else posts a link to an article that says gold is going to $25,000/oz, the real question is what money will do.