goldfinger999

That could happen.But i see obstacles. Today was the US unemployment which was better than expected. Drove the pound down. I expect a little further downside in the pound which will keep the price of gold in sterling high. Also expect to see further downside in the pound as we near the UK elections and then further downside when the US puts up interest rates in the 3rd or 4th quarter of the year.I then expect the pound to rise as I believe the UK will also put up rates towards the 4th quarter or whenever they do.

We are not going mid 700s unless Gold goes well down below $1200 and the pound stays where it is. But if the pound is going down with the $, as is the norm, Gold could go higher, even if Gold goes down in $s at the same time. Remember gold is priced in US$. The $ is very strong at the moment and anything currency also against it are all going down. All its going to do is hedge it out. However since gold is a safe haven if any geo political risks arise in the meantime could spike it up. And with the pound forecast for the year Gold could in sterling terms can well go much higher.