George Soros has called gold the "ultimate bubble".
It's getting more than a little far along into 2012 to still be making predictions, but let me just state clearly that 2012 will not witness a collapse in the price of gold.
Why not? I've written about this at length previously, most recently here.
Gold is already off to a decent start in 2012, up $150/oz YTD, so it's perhaps a little unfair for me to be making this call in February. I'm also not making a call on whether gold will finish the year higher or lower, although I suspect higher. However, I am confident that we won't see the bottom fall out of the price of gold this year, or next for that matter.
Overall, we're somewhere in the middle innings of the fallout from the 2008 financial crisis and there is still way too much debt in the global financial system for the flight to gold to reverse.
It's getting more than a little far along into 2012 to still be making predictions, but let me just state clearly that 2012 will not witness a collapse in the price of gold.
Why not? I've written about this at length previously, most recently here.
Gold is already off to a decent start in 2012, up $150/oz YTD, so it's perhaps a little unfair for me to be making this call in February. I'm also not making a call on whether gold will finish the year higher or lower, although I suspect higher. However, I am confident that we won't see the bottom fall out of the price of gold this year, or next for that matter.
Overall, we're somewhere in the middle innings of the fallout from the 2008 financial crisis and there is still way too much debt in the global financial system for the flight to gold to reverse.
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