Pacific Gold Corp fka PCFG

[Kurupt]

Gold will break out of a narrow band of trading in which the precious metal has been stuck for 12 months and will head towards $1,700 an ounce or higher as central bank moves and production problems increase the demand for gold, analysts told CNBC.


Priced in euro terms, gold posted its highest close of 2012 on Friday after the Federal Reserve's Chairman Ben Bernanke left the door open for a further round of quantitative easing (explain this) in a highly-anticipated speech on Friday.



"There's no doubt there's a big problem. Input costs have been rising [and] the gold price hasn't kept up with it...The marginal cost of production is not at all helpful for the major gold producers [as well as] wage input problems for the big companies."

Speaking about a potential return to a gold standard - to link the dollar (Exchange:.DXY) to gold - that the Republican party are making a part of their policy (a standard that was last axed by President Nixon (link)during the oil crisis in 1971) Naylor-Leyland said it would need serious consideration and could "open up a can of worms untouched for 40 years".




http://finance.yahoo.com/news/gold-break-1-700-ounce-110821934.html