With gold hitting all time highs in nominal US$ there is again ill-informed commentary about a bubble forming in gold. As can be seen in the 10 year US$ gold chart above the gentle 45% degree slope is as expected in a cyclical bull market, with no signs of a bubble spike in prices and resultant blowoff. As in all bull markets 90% of the price rises are made in the last 10% of the bull run and we are no where near that phase in this market.
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