We would not be surprised to see gold average about $460 next year.

That caused the dollar to fall and gold to rise.

The gigantic speculative bubble is popping. We're at a point where some short-term upside pressure is coming off. But I wouldn't be at all surprised to see prices at a new high a year from now.

It shouldn't take long for the registration statement to get approved, so I think the market will move somewhat higher over the next couple of days because people will be focusing on what this may mean for the price of silver.

You have people concerned about inflation picking up, you have higher oil prices, and you have the talk of sanctions against Iran. All of these factors may keep investors relatively more interested in gold than they otherwise would be.

When very large stars die, they create temperatures so high that protons begin to fuse in all sorts of exotic combinations, to form all the elements of the periodic table. If, like me, you're wearing a gold ring, it was forged in a supernova explosion.