Gold price target is still $1200 by..

This what I have seen on many different blogs and websites that I have visited. Everybody have their reasons why Gold price will go to $1200. I would love to hear from you has to why you think gold will surpass the $1200 mark. Is it recession fears, job fears or just fear of losing your money? What is it? Is gold a good investment?

http://www.golddealer.com/caseforowning.html
“Gold’s historical role as money and its perception as a store of value emanates from its relative scarcity and its durability. Almost all of the gold ever mined is still in existence (approximately 153,000 tonnes) and about a third of it is still held by central banks, with the U.S. being the largest net holder. Gold is difficult to mine and newly mined supplies are only increasing the total supply by 1.5 to 2.5 percent per year. This relatively low growth in new supplies contrasts with the growth in various monetary aggregates of six to ten percent per year (see Figure 4). Although gold pays no interest and has a storage cost attached to it, with monetary aggregates growing significantly faster than new gold supplies, simple mathematics suggests that gold’s price should rise over time. Its rising price has never been a straight line, as with most investments. However, historically it has risen fastest during periods of inflation or monetary upheaval.”
http://www.golddealer.com/caseforowning.html