It's being reported that there is very little supply of small quantities of gold. In fact, what little supply available is being bought for $100/oz. Over spot prices. It appears the small guy knows something the commodity markets do not. It makes you wonder if gold bugs have ever heard of deflation. Truly, the modus operandi of the financial markets has been inflation for nearly 70 years, but it's deflation that could unhinge the economy. It's hard to argue inflation with companies like GE (GE), Citigroup (C), Eastman KodaK (EK), Intel (INTC), and host of others selling at more than decade lows, not to mention the massive dislocation in the financial arena.
Here's a question for you: who's going to have the cash to buy your gold? The system is up to its neck in debt, maybe someone could exchange their mortgage for 100 of your gold coins. Your gold is reflective of wealth, and I don't know if you've noticed that there's less of that around; like $9,000,000,000,000 less as of last calculation.
It seems to me that the most overvalued asset in the world is either the 30 year treasury or gold. Now, I'd let you figure it out, but denial is hard to cure. So I expect gold to fall to the $600/oz. level at best, and possibly the $300-400 level. Study your history; you can bet hyperinflation, but if it's deflation, gold has a long fall lower. If you disagree, you can buy the streetTracks Gold ETF (GLD) in large quantity.
Disclosure: Long Money Market Funds, no position GLD