There is just not enough gold in the world to be used as a value backed money medium.

FORBES: 5 Facts To Consider Before Buying Or Selling Gold

There was not enough gold to cover all of the possible exchanges of gold for dollars by foreign governments.

FORBES: Ben Bernanke's Paper Dollar Embodies Systemic Risk

Those higher inflation numbers were not enough to support the gold market, which has fallen this week.

FORBES: FOCUS: European Situation Overshadowing Economic News, Markets

An interesting sentiment indicator from Genesis Financial Technologies that uses the Commitment of Traders (COT) data also suggests that traders are not yet bearish enough on gold.

FORBES: Gold Sentiment Is Still Too Bullish

Roland Phelps of Galantas thinks over 3m ounces of gold reserves could be discovered in that period: not much by the standards of big gold-producing nations, but enough for a tidy niche industry.

ECONOMIST: The high price of gold is encouraging miners to dream

Opinions about the direction of gold prices next week are divided in the weekly Kitco News Gold Survey, with bulls outnumbering bears and those seeing sideways trading, but not enough of them to score over 50% of the survey.

FORBES: No Clear Majority Of Opinion Seen On Gold Prices In Weekly Survey

Interestingly enough, John thinks that you will not necessarily get the best results with exchange traded funds like the SPDR Gold Shares (GLD), ETFS Physical Swiss Gold Shares (SGOL) and iShares Gold Trust (IAU).

FORBES: John Mauldin Talks Up Gold