reasons/factors that affect gold price to rise and fall?

what reasons/factors that affect the price of gold to rise (just like in the year of 1980) and fall (just like in the year of 1999)? Based on world scenario these days, will the gold price below $300 in this year?

Public Comments

1. Greed, and contrived world situations to justify it, just like oil.
2. Below $300? Doubt it. Inflation, recession/depression, terrorism/war.
3. supply and demand
4. Gold is a monetary metal whose price is determined by inflation, by fluctuations in the dollar and U.S. stocks, by currency-related crises, interest rate volatility and international tensions, and by increases or decreases in the prices of other commodities. The price of gold reacts to supply and demand changes and can be influenced by consumer spending and overall levels of affluence.
5. The rise and fall of gold. Ahhhh. Based solely on supply and demand...and the greed of those that want it. If no-one wanted it, it wouldnt be worth a dime. I doubt it would go below 300.
6. Gold behaves like most commodities: its price rises and falls according to its utility and scarcity. Some people believe that gold is a useful hedge against inflation; this conventional wisdom arises out of the history of the US dollar, which was once pegged to gold (the Gold Standard). In actual practice, gold has proven itself to be a rather lousy hedge against inflation, probably because it has limited intrinsic value. By this I mean that its actual utility is limited. It looks nice, but you can't eat it. In the past, gold has done well when there has been increased industrial demand for it, or during periods of US dollar weakness. Having said that, there are more than a few alternatives for protecting yourself against currency collapse or general inflation. Minerals with greater utility (palladium comes to mind, or even uranium!) are worth considering. So, while you might make a general statement that gold rises in price when there is inflation or currency weakness, following this simplistic advice has gotten a lot of people into trouble in the past. Better to pick something that people are more likely to actually need.
7. Greed is the main factor. Why does Gold have value anyway? It's just a metal. There's millions of tons of it in the world. It is not rare. It is not hard to find. It is not hard to get. People are the problem. I'd like to see Gold bottom out at $1.25 a pound! Serve the hoarders right!
8. I hope it gets up to $750 before it falls, cause I know someone who will give me a few thou if it hits $750.....It's at $714 right now, so close yet so far.