i know that with silver approaching $25 and gold near $1400, grading jon nadler is like shooting fish in a barrel, but let's take a look at his track record anyway. this is from the silver enthusiast:

It is popular opinion that Kitco’s frontman Jon Nadler has a poor understanding of the precious metal markets, but I decided it would be prudent to see if the complete lack of respect for this man from the enthusiast community was justified given his forecasting performance over the last few years. The results were fairly conclusive. Even when given a timeline of just a few months, Nadler is woefully off the mark across the board, and often doesn’t show up in the right zip code when asked about longer-term expectations. Unfortunately, most of his predictions are on gold, but we found some great quotes on why he doesn’t appear to like silver and his general attitude towards the metal. Don’t take my word on it, however, take Jon’s:

11/2006:
Nadler predicts the 2010 average price of gold to be $800/oz. Unfortunately, this year’s average looks to be around $1,150 glancing at a chart. Hey, what’s a 41% miss among friends?
Timeframe: ~4 year prediction
Result: Garden-variety fail.
Grade: D [we'll cut some slack on an extremely long term prediction. it's like kicking a 70-yard field goal; we knew he'd miss, but why even bother trying?]

10/25/2008:
Nadler predicts gold in the low $500/oz range and reflects that a world of $2,000/oz gold is “not one we’d like to live in“. He doesnt see anything ‘pleasant’ for silver within two years, and further, he comments on those crazy eBayers paying more than $5 over spot for silver (silver is still around $5 over spot on eBay, by the way),. He does hit a softball question about his greatness out of the park, though: “If I tried to convince you that it’s a one-way street and it can only go that way and buy now, beat the rush, two years from now you might not want to talk to me. I would have lost credibility. It’s not about being right on price forecasts, although I don’t think I’m too far off on those either.” Actually, if Nadler convinced you to rush out and buy gold then, you’d be up 87% and probably sending him Christmas cards every year. Regarding price forecasts, well, he’s not off to a good start.
Timeframe: Unclear, assuming 1-2 years
Result: Epic fail.
Grade: F [he lauds his own credibility for keeping you out of market that would have almost doubled. brilliant!]

10/26/2008:
Nadler marginalizes silver, stating that silver is just a “trade” and opines that it has “pretty much lost its long-standing monetary attributes“. Had someone made a ‘trade’ in silver and resolved to not sell for 2 years (ie, go long) based on Nadler’s comments? They’d be up 144%.
Timeframe: 2 year prediction
Result: Epic fail.
Grade: F- [it's one thing to say an asset will drop and be wrong, but it's an entirely new skillset to trivialize an asset and have it rocket 144% over two years].

12/31/2008:
Nadler predicts the average 2009 gold price “..will likely register near $810 per ounce, following its $871 average for the current year.” He tries to pad his prediction by citing it could be $100 higher/lower given financial and geopolitical uncertainties. So that’s anywhere from $710-910/oz. Nadler misses again, as average prices were $972. Not a huge miss if you consider his padded-high-end figure, but gigantic at his padded-low.
Timeframe: 1 year predicition
Result: Garden-variety fail.
Grade: D [his disclaimer that he could be wrong saved him from an F, but he was still 36% off from his low].

http://silverenthusiast.com/grading-jon-nadler/