Quote from article Meanwhile, it still confronts a giant wall of skepticism. I hadn't realized just how much skepticism was out there until I went on leave. During the summer's financial crisis, pretty much every mainstream personal finance expert I saw on TV parroted the same line: "Gold is over," "It's too late to get into gold," "Don't buy gold at these levels," and so on. Hardly anybody owns gold. The assets of the Gold Trust ETF are still trivial compared to the trillions held in equities and bonds. Four times as much money is held in Apple AAPL -0.24% stock alone as in the entire GLD. At a recent conference of about 40 investment commentators and gurus, I asked how many people in the room actually owned any gold in their portfolios. Just two of us raised their hands. Click on http://www.marketwatch.com/story/gold-3000-2011-08-23
Yeah, he is going off past bubbles for the target. With interest to be kept at zero for a couple of more years this is shaping up to be a much longer bubble. Below is a flash based chart comparing the nasdaq bubble, oil, the previous gold bull and the current. You can deselect the different charts. I got rid of oil in the chart to get a better look. http://www.thumbcharts.com/1300/gold-at-3000-only-if-bubbles-repeat
Look at the gold silver price chart since 1915 (thumbcharts above) and it clearly shows that silver does follow gold in the peaks which proves that it is just as much a precious metal as gold rather than just a commodity.
goldpanner, I wonder how that Gold/Silver 1915 chart would look without our good friends the Hunt brothers. It seems to me that they are the only reason silver followed gold north in that time frame. Though I do agree that Silver is every bit as good as gold over the long term, and certainly in the turmoil to come. OC
the gold/dollar ratio still same even gold goes to 3000. which like wage for now is 4000AUD/mouth, gold is 1750, so it's 1750/4000=0.4375 after gold goes to 3000, wage will increase to 7000AUD/mouth, so 3000/7000=0.4285 so 0.4375 with 0.4285 are similar if we consider inflation
+1 the best thing that purchase gold is coz gold is way to anti-inflation, which means gold's real value never change. compare with papermoney will changing upon gov's decision
China advices it's public to invest in physical gold and silver. Guess what? They alone can easily consume the whole supply of both each year. It'll be just around 200bln$ at current prices.
Good point OC Was JPM et al in the game in 1980? Does anyone know how the Hunt brothers and other major players got along in the lead up?
