I just saw on Bloomberg minutes ago a gentleman (I believe by the name of Bob Takai) from some firm in Tokyo commenting on the price of gold. He said that the ETF market owns 1600 tons of gold. Of that, 450 tons has been bought over the past three months. At this point I would ask - what does a top look like? What does a bubble look like?
Certainly down the line inflation may take hold, but who knows how/when/what that will look like and how it will affect gold. I personally think that, in $USD, gold may go higher but everything else most likely will due to the world moving off the dollar as the world currency.
Interesting. Disclosure: I do not own gold.
Bloomberg also insinuated that the trade is to buy copper. Makes me a little concerned that the retail news is promoting what I am seeing and have bought!! :)
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