NEW YORK ( TheStreet) -- The printing presses are running 24/7, the debt levels are unsustainable, China and India are showing growth, gold is a storehouse of value, _____ (insert the latest reasons here). The reasons for gold moving higher continue ad nauseam despite inflation's deafening silence.Pundits of higher gold prices have called it correctly for so long; many have likely forgotten what it feels like to get it wrong. The $2,000 gold hysteria and subsequent price fall is déjà vu all over again (thanks Yogi Berra). If you're old enough to remember, the gold bubble song played in 1980 along with Diana Ross's hit "Upside Down," which is what gold investors quickly became if they bought and held. In the first weeks of 1980, most newspapers printed gold prices on the front page: $1,000 an ounce (and higher) was declared a "sure thing." Prices didn't bottom after until reaching lows under $300.
Attention Gold Bulls: Oil Is Leading the Way
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts