Badly written and researched article. 1) No inflation. LOL yeah ok. I have yet to see prices for any vital good fall, they only rise. And it's not like there is trillions of cheap money being pumped into a stalling economy 2) CRB index comparisons. They are weighd down by oil. Oil itself is not expensive, it is the refining which is the issue. 3) Paper gold & physical gold are two markets that are moving away from each other. Most gold buyers will never look past GLD. I think many will end up realizing they hold worthless gold contracts & shares. Where gold will move down in value is versus food, water, electricity & medical. But not versus fiat currencies.
GOLD is not in a bubble, Gold should be at 1500-2000 at this very moment, if it were at 2500+ I would be calling it a bubble, however its no where near a bubble.
Another perspective. GC up roughly 39% since November with no real pullback too speak of. Maybe not a bubble...but a lil frothy here. Only two things can happen from here. A double top defended at the grand mark and she rolls ala all the other metals. Or a total blow out and it doubles. I dont care either way. For more insight do some research on how many cars are actually taking delivery. Less than 1% last I heard.