Looks like a spike. Getting in here would be a tremendous gamble.
I told people to start buying gold when it was near 300 an ounce. I'm not a genius, but you could see with steady rising oil prices that it would eventually spike up. Now though, is difficult to call. On the radio today was a statement that gas is likely to fall 75 cents a gallon by Labor Day. If true, that should let some air out of Gold. However, we will still have some inflationary effects, and there is still the tension in Iran. What to do, what to do. So I will boldly predict, uh, something may or may not happen to affect the price of gold in the next few months.