The price of gold is more like $1160 per ounce and it's going below $1000 perhaps a lot lower. In fact, it will almost certainly go to half it's peak price, which, in U.S. Dollars was 1923.70, half of which is 961.85. I wouldn't touch gold with a ten foot pole until it not only touched that number but showed evidence of an uptrend with support in that price area, which is a year or more away.
India, the by far largest market of gold in the world, is starting to actually confiscate gold. Literally going door to door and confiscating anything over a certain allowed amount of physical gold. Countries all over the civilized world are making it impossible to travel with gold and doing all sorts of other things that make it unattractive to own gold. It is an international hunt for taxes because the governments that have participated in the greatest Ponzi scheme in the history of mankind cannot find the money to pay their U.S. Dollar denominated debt and understand that the bubble is about to pop. Don't believe the lies that the people selling you gold tell you about how precious medals are real money. It's not true. Money is whatever people will exchange for goods and services. It can be anything from cow dung to toilet paper. Gold is no different than any other commidity. If you buy gold in U.S. Dollars, you are effectively shorting the dollar. All you need to know to figure out that this is not a good idea is to realize that as bad a shape as we are in, the whole rest of the world is a lot worse. We are, by far, the prettiest penny in the drawer and as such, the world's money is going to flee the worse economies and flow to the U.S.
I'll leave it to you to decide if it sounds like I know what I'm talking about.
Cheers!
Clete