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Jack Chan’s weekly update

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.

Gold’s getting ready to have a short-term correction if it didn’t start today. Trying to game short-term corrections in a raging bull market is a fool’s game and there’s no reason to do it.

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.

So far this week has been slow in regards to commodity etf funds. Gold continues to shine while silver refuses to make a move higher.

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

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

Gold has just breached US$1100 after a strong move following the purchase of 200 tonnes of gold bullion by the Reserve Bank of India from the International Monetary Fund. This overhang had been troubling “ye of little faith” observers of gold. The same day the Reserve Bank of Australia raised rates…

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.

Gold, small caps and the U.S. dollar have had a stable three-way relationship for the better part of the 2009 rally. Now the three could be parting ways.