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After it's early Autumn rally, gold is working through what looks to be just another one of its brief seasonal slumps that typically strike at this mid-Autumn time of year (late October to early November). See the chart below for more insight on gold catching its seasonal breath followed by its typically powerful year-end performance. And read on for expectations of an imminent $2,000 per ounce gold price, with sights upon $5,000 beyond...

Confident investors banking on gold
By easier/finance; October 26, 2009

...Barbara-Ann King, Head of Investments at Barclays Stockbrokers said: "Despite the price of gold dipping this week, the past nine months have seen the popularity of gold soar. The credit crisis triggered a flight to safety from investors and gold's perceived safety and lack of correlation with equities saw investors flock to it...

"Central governments around the world have already reacted by remarking that gold may become the reserve currency of choice over the dollar as its value drops compared to other safe havens. ... While it is encouraging to see our clients looking bullish in their outlook for the price of gold it is worth all investors bearing in mind that commodities like gold and the products that provide investment exposure to them can be volatile."

USAGOLD Comment: To be sure, volatility has become the unparalleled domain of Wall St., especially in this new age of government meddling in all things economic and financial...

"Casino Wall Street"
Cartoon by Ed Stein, commentary by Randal Strauss, USAGOLD; October 30, 2009

...Given that government policy, programs, and spending on a massive scale is what's currently fueling our economy, it makes any attempt at investing more akin to a random gambling crapshoot than to our national tradition of rational speculations based upon considerations of conventional economic metrics and corporate fundamentals. And this random crapshoot certainly seems to be borne out by this past week of volatile action in the U.S. markets in which the Dow Jones industrial average has had a series of triple-digit days, moving up or down by at least one percent in four of the past five sessions. So much for the idea of a rational stock market that already has every fundamental thing, more or less, "priced in"...

USAGOLD Comment: So what is there for a rational investor to do? A good start would be to read on, for solid ideas will surely follow...

Gold bull market to run for another five years
By John Winston, CommodityOnline; October 27, 2009

. . . Really, when you stop to think about it we all tend to make the practice of successful trading and investment harder than it really needs to be; we apply dozens of conflicting indicators and then listen to too many different points of view, and then wonder why we've become powerless to choose just which side of the market to be on.

Sound familiar? It should, because if we're all honest about it, everyone who's ever traded and invested for any length of time has probably found themselves mired in a similar situation, one in which confusion and fear overshadows sound logic, long-term fundamentals and high probability patterns of momentum, support and resistance...

...at some point in this ongoing Gold bull market, we may very well see the price of Gold completely de-couple from any semblance of correlated movement with the broad stock market indexes, as investor concerns over inflation and dollar devaluation trump all other considerations. And even a small percentage of money pulled from the stock market -- subsequently re-invested in the Gold market -- could make such a 'de-coupling' an event worthy of notice by millions of investors, worldwide.

USAGOLD Comment: In a recent newsletter by well-known economic analyst Marc Faber on the price of gold (and comparisons with the S&P 500 index of the stock market), Faber had this to say:

"Some pundits will argue that precious metals are expensive, but this isn't my view. Why would anyone not own some gold, rather than US dollars, when interest rates are near zero? Dollars can and will be printed en masse, whereas the supply of precious metals is extremely limited. ... At present, gold sells at about the same level as the S&P 500, but if I am right about the size of future US fiscal deficits and about the Fed neglecting to protect the purchasing power of the US dollar, I could envision a time when gold will sell for at least two or three times the value of the S&P 500."

Faber had additional cautionary words about the fate of the dollar in a recent interview on Bloomberg TV...

Dollar will be worthless amid fiscal 'disaster' in U.S., Faber says
By Deirdre Bolton and Matt Townsend, Bloomberg; October 26, 2009

The dollar will become worthless when people eventually realize the fiscal situation in the U.S. is a "disaster," said Marc Faber, publisher of the Gloom, Boom & Doom report.

"It will go to a value of zero eventually, but not right now," Faber said today in an interview on Bloomberg Television. "Looking at Mr. Obama's administration, it should already be there. I think it will take about 10 years until people realize that the fiscal situation of the U.S. is a complete disaster."

While the dollar may rebound in the short term because it's been oversold, a rally won't last because the U.S. will be forced to print more money to pay its debt, Faber said.

USAGOLD Comment: What is the likely result of the massive dollar printing activity expected by the U.S.? Read on...

Gold to rise to $2,000 amid 'massive' inflation, Superfund says
By Kim Kyoungwh, Bloomberg; October 28, 2009

Gold may rise to a record $2,000 an ounce in the next three years as investors hedge against "massive" inflation sparked by governments printing money, according to Superfund Financial Singapore Pte's Aaron Smith. "In the next few years, after the deflation cycle, we'll see massive inflation," Managing Director Smith, 30, said in an interview. "Soon, when you go to buy a cup of coffee, you'll pay $20 or $30 because the dollar won't be worth anything."

...Gold rose to an all-time high this month as governments including the U.S. boosted debt to combat the global recession. The metal has strengthened 18 percent this year, while the Dollar Index, a six-currency gauge of the dollar's strength, fell 6.4 percent...

"When the U.S. dollar crashes, all the paper currencies have to crash, otherwise if their currencies are too strong, their economies will be weak," said Smith...

USAGOLD Comment: While Mr. Smith sees the $2,000 level being achieved within the comfortable timeline of three years, our final commentator anticipates it much sooner, and continuing onward to $5,000...

Goldcorp founder sees gold at $2,000 by end of 2010
By Doug Alexander and Rob Delaney, Bloomberg; October 30, 2009

Rob McEwen, founder of Goldcorp Inc., said the recent decline in gold's price is temporary and that the metal will reach $2,000 an ounce by the end of 2010.

"There is a seasonal low in this part of the year; I wouldn't be disturbed by it," McEwen said. "I think by the end of 2010 we will be at $2,000; by the end of this cycle it will be at $5,000." He gave no timeframe for the end of the cycle.

USAGOLD Comment: If our third headline is to be believed, Mr. McEwen's $5,000 target will be arriving within Mr. Winston's five-year bull market timeframe. It is this editor's well-considered opinion, however, that gold will be rising further and for longer -- eventually proving both of these gentlemen's estimates as pale understatements of the power of the wealth-rotation currently manifesting itself in the gold market.

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