>> George, the CB's have had their "way" with gold for some 50 years now, except few interruptions, think they will continue and manage gold to their end. <<
Unlike other commodities gold is one of the few that actually gets more demand as the price rises. In every other gold bull investor demand has far outstripped any decrease in demand from jewerly. Besides CB's may be able to dampen gold prices, but at this point they can't do much about the falling US Dollar. Attempts to prop it up will only delay the inevitable. Since gold is priced in Dollars I think a minimium move in gold to $400 is almost a given within the next 1-2 years. Beyond that CB may try to play their games again. Then again, some CB's may actually add to their reserves at much higher prices (this has been the case in many other gold bulls).
You have a 20 year trend that has only reversed itself in the last 2 years. Yet somehow it's over because the CB's have controlled gold for 50 years? Don't think so.
As I have said before (and other's said it before me) Greenspan wants a higher gold price to show that deflation is not the problem. What that level is I'm not quite sure yet, but I doubt he'll be able to "control" that level once the gold bull is in full swing.
