An article on Bloomberg comparing the gold market in the late 1970s – dramatically peaking in 1980 – to that of recent years has suggested that “gold could soon get very boring” and a “repeat of that trend would leave gold at around $1,000 an ounce in 2035.”
There's been plenty of talk about potentially radical US foreign policy changes as a result of the shale boom. While one shouldn't expect any dramatic US foreign policy move away from the Middle East, factors are influencing a greater focus on Asia.
Gold was off its seven-month high on Monday but the recent wave of central banks who started printing money and bond buying again is very supportive for the yellow metal and euro gold remains close to record highs.
When one juxtaposes Alan Greenspan's views from 1966 with those of 2010, it is clear that he has a good understanding of the central role gold plays in the monetary system and that unbacked fiat currency is intrinsically worthless.