Nobody knows that for sure. But I would be personally surprised to see Gold below 1100 in USD. In order for that to happen we would need to so see quite a bit of organic growth without Fed intervention. And at the moment, it seems as though that is a long way away. As long as we are attempting to reflate around the world through central bank intervention gold should have a floor not far from here. Plus on an inflation adjusted basis, gold has a long way to go to set a new high.