Is gold headed to $1,000 per ounce or less

Is gold headed to $1,000 per ounce or less? US investors appear to have soured on the precious metal in recent weeks with the price remaining below the important $1,200 mark. Yet, there's still a fair amount of risk in the global environment. Europe is dealing with potential deflation, while China and Japan struggle to get their economies on track. So why may gold be headed for the dumpster? Basically, it's all because of the US dollar. With the US economy holding firm, and the dollar gaining strength, it becomes a far more attractive investment than gold. And, the dollar only stands to benefit next year if rates start to rise. Another interesting note, investors appear to be favoring silver over gold, with huge cash flows into silver ETFs and coins recently (according to the attached article). Apparently the high gold/silver ratio is viewed as a compelling reason for metal buyers to switch to silver. (VIEW LINK)