Jordan Roy-Byrne CMT, MFTA

Video & Audio embedded in the post.

Marc Faber, a few days ago said Gold would drop to $800 or hold above $1000. Now he believes $1,000 is a historic floor.

Global gold production is in terminal decline despite record prices and Herculean efforts by mining companies to discover fresh sources of ore in remote spots, according to the world’s top producer Barrick Gold.

The report is here at CNBC, c/o of Reuters.

Chris Puplava over at FinancialSense takes a lengthy look at the aforementioned question.

India’s deal to buy 200 metric tons (6.4 million troy ounces) of gold from the International Monetary Fund (IMF) is a huge deal – not just the fact that the New Delhi government is handing over $6.7 billion for the metal, but what it may mean for gold going forward.

Since the USA will not default, not raise taxes nor cut spending, the only logical recourse will be to print vast sums of U.S. dollars to fund this surreal foray into deficit finance. In other words, reflate.

This is a commentary from Steve Saville, originally posted at 321gold.com

The naysayers have said gold was ready to fall at every step of its upward march toward $1,100. But the world can’t get enough of the shiny stuff.

Jesse shows some of the gains in junior miners (the speculative companies) in the 1970s.