Who knows. Somewhere in that range the US could actually go back on the gold standard if they would quit printing money. Of course by the time gold would reach those prices it probably means there would be a kazillion billion more dollars already printed so probably couldn't. Whatever price gold goes to if it does skyrocket some of it may be speculation but most of the advance will simply be it holding its value while paper currencies are devalued. If an ounce of gold buys 300 bushels of corn now it will still probably buy about 300 bushels if it went to $12,000. It is that the dollars will be worth less, not that the gold will be worth more.

I would look at gold as being more of an insurance policy of dollar devaluation rather than a speculative profit maker. If for some strange and unknown reason the dollar would actually start gaining in real value (not just against other currencies, against real goods) I would imagine gold would again fade into non-interest. I do not see that as being very likely anytime soon.

John