However, economic prophets are no different from other kind of prophets. They sincerely believe in their messages. It is very difficult, if not impossible, to predict the price of gold. But taking USA's enormous debt and money printing madness into consideration, I predict that the price of gold will keep on rising. The supply is limited and the demand for the useless metal seems to be infinite.
Is it then impossible to predict the price of precious metals? Yes and no! It is possible to predict within certain given variables at a given time. But... if something unexpected happens to the economic systems of the world... Then the price of gold might change in matter of hours.