Is the gold market in a bubble? Many Wall Street pundits say so. It seems that every time the price of gold moves higher, the bubble enthusiasts emerge. Even George Soros has called gold the "ultimate bubble" - at the same time that his funds were increasing their gold positions considerably. Hmmm?
Gold has had a 5 fold increase in the last ten years. You can't eat it; it lasts forever and I don't think I know any intellectuals that own any. So it must be a bubble ---right?
Let's step back and look at the big picture.
Yes, gold has been in a strong bull trend for the last ten years. Take a look at the multi-year gold futures chart below (click to enlarge):
Over the long term, you see that the gold price advances have been orderly. Moves higher have been followed by healthy corrections and periods of
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