To be fair that will not occur again. I am not sure if you know why gold fell to 300/ounce or not but we are unlikely to see it again.
The USSR at the time unloaded their gold supply into the market to save the government from collapse. This enormous influx of gold sent prices barreling down.
I agree that the gold market is likely to fall. I expect to see pricing under 1200 before mid next year.
I believe the economy and global financial collapse is not as large as the media is making it out to be. The US has shifted to a more streamlined work force and it could take a couple of years to get people back to employed. We will show economic growth (small) continue for the next several quarters.
Of course China is the wild card. The question will be whether their efforts to stem growth will back fire and lead to a recession. If that happens than things will get very bad very quick.
Either way I feel most commodities will settle back but feel gold will remain above 1000 and ounce for years to come at this point.
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