The recent volatility in gold has been interesting.

Some people are calling the top and some are saying that this pullback is healthy for gold to continue its bull run over a longer term.

So, do you think the gold top has been seen already and gold is going down from here? Or is this drop just short-term and due to speculators, gold is going higher?

I thought we could do a simple thread so we can see if the majority is correct or wrong down the road.

If you get 50 votes one way or another (not sum total), I'd like to bet that the majority is wrong.

Post a graph so we can do some profound technical analysis!

Does anyone think the US government is going to stop issuing debt any time soon?

The bull isn't even out of the chute yet.

The real bull market hasn't even begun. People have been calling it a bubble since the low 500s or earlier.

This has a handpicked horizontal axis range and dual vertical axes with different scales. There is also a suppressed zero on one. How can you explain a casual connection?

I think neither. I think it will rally but not to new highs.

Interpreting "gold will hit new highs" based on the dollar value of an ounce of gold, how could it not hit new highs? Does anyone think the dollar will cease to be inflationary? The purchasing power of gold doesn't have to increase for gold to hit new highs, all that needs to happen is for the value of the dollar to continue to decrease.

Well it is taking a pounding in terms of dollars at the moment.

Exactly.

Good call.

Gold looks like it will take off this year from the pullback that it had.

When does this bull market end I wonder?

Silver is also looking bullish.

Short video from Yahoo! Finance that claims the peak should hit end 2012/beginning 2013.

http://finance.yahoo.com/video/compa...-27916203.html

EDIT: Also another article here about upcoming Federal easing that probably deserves a thread of its own but will certainly affect gold. http://finance.yahoo.com/news/feds-l...192319782.html

Too much cherry picking data short of a time line to be worth looking at. Gold moved the opposite direction as inflation for 20 years prior to the current bull market:

So what happens to gold's purchasing power if we returned to a gold standard? I don't get it.