I have held remarkably contradictory views about the staggering rise in gold prices this year, especially following the recent sharp reversal. On one hand, I would not be surprised if the dip turns out to be the beginning of the end of the rally. On the other hand, I sympathise with those holding the opposite view: the pullback is merely a brief correction to what remains a powerful trend, with the price of gold reaching historic highs as markets adapt to complex, profound changes in the world’s monetary and financial system. Let’s start with the bears’ case. Clearly, gold’s meteoric rise – outstripping even the Big ... (full story)