Gold for December delivery GC1Z -2.05% declined $45, or 2.7%, to end at $1,594.80 an ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement since July 21.

“Short term, there’s clear demand destruction in gold derivatives right now,” said Adrian Ash, head of research at BullionVault.com, in emailed comments.

CME Group late Friday raised margin requirements for some gold- , silver- and copper-futures contracts, adding pressure to metals prices Monday. Margin is money investors must put up to be able to trade and hold futures contracts. You can see that report here.

It is clear that investors had millions upon millions of dollars in gold and silver, and now both the meals are taking massive reduction hits because of the selloff.

That being said, gold and silver are still one of the best places to invest your money, as at least your money will be safe in these metals.

Gold for December delivery was sent plummeting down $51 to $1,757.10 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,789 and as low as $1,749 while the spot gold price was down almost $26, according to Kitco’s gold index.

What can we takeaway from this? The only word that comes to mind is “PANIC.” Which is what all these investors are doing. Rightfully so I guess, as the money they have in gold is at least able to keep many of these investors afloat, even when their other stocks and commodities take a huge hit like they did today, and the past few days.

The price of gold is very volatile right now. Recently it was hovering over the $1,800 an ounce mark on its way to $2,00o an ounce. However, with the rising fears in Europe and the Federal Reserve’s downgrade of the U.S. economy, investors are in the midst of a sell off of gold just so they are able to survive.

Gold prices will continue to be volatile for the foreseeable future, with gold acting as a safe haven for money in the long run. It should be interesting to see what gold prices do in the next few weeks after all of these cash starved investors finish this needed gold sell off.

The numbers are listed below, and while they don’t look like anything crazy, they are all over the place. HSBC released a statement regarding how they came up with these numbers. Here is the statement.

“HSBC has raised its gold price forecasts for 2011 through 2013, saying gold is benefiting from fears about high government debt levels, geopolitical risk, and few alternative havens.”

HSBC Gold Forecasted Gold Prices

• 2011 gold price forecast to $1,630 per ounce from $1,590.
• 2012 gold price forecast to $2,025 per ounce from $1,625.
• 2013 gold price forecast to $1,850 per ounce from $1,550.

At least the prices are staying high, which means that gold will remain a great investment, especially if you need to protect your money.

There was a little less concern in the region today, as debt crisis looked to be put on hold (at least for a bit) and eroding demand for the metal as an alternative asset dropped. The good news is that at least it looks as though Europe may stand a bit stronger for the rest of the year (though this could change at any moment), the bad news is that gold prices dropped on the news, showing the glaring problem that we have with gold and gold prices.

“This is an initial knee-jerk reaction after ECB’s statement as people are viewing it positive for the European economy,” Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago, said in a telephone interview. “The ECB has managed to find a band-aid for now.”

And it looks as though that is exactly what it is, a band-aid that will hold the wound for now, but does not solve the problem for the future.

As for the price of gold itself, gold futures for December delivery fell $39.90, or 2.2 percent, to $1,786.60 an ounce at 10:01 a.m. on the Comex in New York, after touching $1,779.70, the lowest since Aug. 29.

Before today, the precious metal climbed 29 percent this year, reaching a record $1,923.70 on Sept. 6. As we have repeatedly stated, you can expect to see price spikes like this for gold for the foreseeable future. However, it is still gold, so even a price drop is still going to allow the metal to be very sought after.

Gold for December delivery was up $14.60 at $1,827.90 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,838.90 and as low as $1,794.80 while the spot gold price was adding $11, according to Kitco’s gold index.

Monday saw a huge sell off for gold, as the news that Greece was more than likely going to default sent investors scurrying to sell their gold to cover losses in other stock areas.

However, it seems as though investors turned right back around a used the price drop yesterday to invest in the yellow metal again, driving the price back up and solidifying gold as one of the best safe havens for money during these economic times.

We should continue to see gold prices spike up and down in a pretty volatile manner. However, gold will probably hit the $2,000 per ounce price range before the year is over.

Gold prices have been spiking wildly lately, as the price of gold can’t stay put in one place for long. The spikes have been up and down, yet gold refuses to drop too much without spiking back up to an even higher level.

Gold for December delivery settled up $2 to close at $1,859.50 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,889.10 and as low as $1,825.50 while the spot gold price was losing $11, this according to Kitco’s gold index.

Obama’s speech didn’t seem to settle any fears about the job situation in America, as investors will want to wait and see if his plan takes hold and works or not. With that being said, it is still a smart choice to get you money in gold and silver to protect it, as it is a guaranteed safe haven right now.

One thing is for certain when this topic is brought up. It seems that everyone thinks that gold will hit the $2,000 per ounce price range (including myself), yet most people disagree on the timeframe.

The fact of the matter is this; the economy is horrible – worse than it has been in a very long time, and just about every smart investor is putting his or her money into gold and silver to keep it safe. Some investors are putting money into precious metals to gain a quick return, but most who do it now just want to keep the money they have safe, and gold and silver are guaranteed safe havens right now and for the future.

So when will gold hit $2,000 per ounce? According to analysts from Barcalays Capital, gold will average $1,875 in the fourth quarter and then shoot to $2,000 in 2012.

“Gold prices tested fresh all-time intraday highs before dipping below $1800/oz this week; however the macro environment has become increasingly gold favorable with central banks keeping interest rates unchanged, the (Swiss National Bank’s) decision to limit the strength of the CHF (Swiss franc) and continued uncertainty surrounding the state of the global economy,” Barclays says in a late-Friday report. “Good physical demand has emerged from price dips, and other central banks have announced they will add to their gold reserves. In turn, barring short-term corrections, we remain positive on gold.”

I won’t go as far as to say that these analyst are wrong, because they are not wrong, gold will indeed hit the $2,000 per ounce price mark. However, I believe we will see that price before 2011 ends. I just don’t think that the price of gold can average under $2,000 for much longer. I will use this as backup; if the economy remains how it is now, or even worsens (which is what is happening), then gold is going to shoot up faster than originally thought.

However, if the economy starts to gain its footing some, then we may see gold stay under $2,000 for a bit longer. Either way, it is still gold, and everyone wants it! Look for gold to hit $2,000 per ounce before 2011 ends.

Gold for December delivery skyrocketed $30.20 to close at $1,852.20 an ounce at the Comex division of the New York Mercantile Exchange, although settled well off session highs. The gold price has traded as high as $1,881.40 and as low as $1,824.50 while the spot gold price was adding $25, according to Kitco’s gold index.

Gold prices have risen more than 6% in just a week as investors gobbled up the metal as protection against slowing global growth from China to Germany to the U.S. A day after Morgan Stanley lowered U.S. growth prospects for 2011 and 2012, gold prices showed no signs of slowing down.

Investors don’t really have a lot of options for “safe” places to stash cash as Hewlett-Packard’s (HPQ) dismal 2011 outlook kept stocks volatile giving limited respite from Thursday’s carnage. The popular gold ETF, SPDR Gold Shares (GLD), added 15 tons Thursday to 1,286, but many experts are now bracing for a pullback after gold’s explosive run.

David Banister, chief investment strategist at ActiveTradingPartners.com, said that gold will peak at either $1,862, $1,880 or $1,907 an ounce. ”One of those three is going to peak out this parabolic blow off top rally and be followed by a great opportunity to profit by shorting,” he said. Banister, who thinks that gold’s long-term bull run is not yet over, said that peaks are typically followed by 15%-20% corrections, which would take gold to the $1,500 an ounce level.

How long can gold continue jumping in price at this rate? Fro all accounts, it looks like the bull market for gold is still nowhere close to being over. Get invested in gold.

Investor Felix Zulauf

Zulauf actually thinks that the stock market will see more new lows this fall. He also thinks that eventually both the Fed and the European Central Bank will step in to support the financial system. Even though this may happen, Felix reiterates that “providing additional liquidity is not a solution, “if we don’t do it the system will break down.” His overall outlook for the future? Own a lot of gold and try not to be in too much debt.

Fred Hickey: Editor of The High-Tech Strategist

As is the case with his friend Felix, Hickey also thinks that the Fed being forced to initiate more quantitative easing as economic conditions deteriorate. However, according to Hickey, the drawback of more money printing is that “the Fed…can raise the nominal prices of assets – but not the real prices, because inflation will rise.” Hickey, who is an owner of both gold bullion and ETFs thinks that the better play right now is in gold mining stocks since they have lagged the price increase in gold bullion.

Marc Faber: Editor of The Gloom, Boom & Doom Report

Faber sees a short term bounce in stock prices and a possible correction in gold of $100 to $150. After all the rallying and overselling of metals, stocks will drift lower due to concerns over sovereign defaults, a dollar crisis, continued social upheaval in the Middle East and developed countries in the West, recession, lower corporate profits and the possibility of a “bust in China.” His thoughts on the overall gold market? Faber seems to remain long-term bullish, saying that “As long as the trio of Obama, Geithner and Bernanke are in power, gold is destined to move higher. Long-term treasuries have no value. They will default by paying interest in a worthless currency.”

Gold and other precious metals continue to look like one of the only really good investments left. Unless you own stock in a huge company from years ago, then putting money in gold and other precious metals like silver seems to be a pretty safe move.

*Remember, these are still only the opinions of three people. Always do your own research and really study the gold and silver market before investing.

Or are they?

The Washington Post has a great article on why some investors are fearing the sudden rise in gold, and also why some investors think $1000 is just the beginning. Inflation on the rise, the dollar weakening and a market that isn’t quite sure why it’s almost back at a DOW of 10,000. That’s what has investors scratching their heads and disagreeing.

One things for certain, gold and ETFs like GLD could still be good buys if we continue to see the fed printing money, and worldwide banks scooping up gold as a hedge to the weakening dollar.