All this dollar-bullishness/gold-bearishness has caused mining companies to sell off big time. Some of them are now 75-80% below their top, and when you look at their charts, it looks like the world is coming to an end for those companies.
Sure, debt crises should be good for gold, but even though the crisis in Europe is escalating gold is not acting as a “safe haven.” If the debt crisis continues until 2015 and gold continues as it does right now, we could see gold trade to $1,000 oz.
When we take a look at past bubbles, we can see that Apple has now reached the top three of all “Bubbles”. Apple’s gains dwarf those of gold and silver, even though those two assets also had a very impressive run since the beginning of the 21st century.
After writing an article about the platinum-to-gold ratio, I decided to do more with the Excel sheet, like calculating correlations and plotting the price charts for example. In this article, I will just focus on the gold price.