Why The Current Bull Market In Gold Is Bigger Than The One In The 1970s. According to Dow Theory, secular bull markets have three phases: The first phase is marked by slow appreciation of insiders and professionals; the second phase is characterized by more rapid appreciation, mainstream media coverage, and an increase in mass market investors; and the final phase is characterized by a parabolic mania. As the chart below illustrates, a case can be made that gold is about to enter phase three -- the mania phase. Click to enlarge all images. The fundamentals supporting a mania in gold (GLD) and gold stocks (GDX) remain intact, as the world is still awash in debt. A Top US Government Priority: Make People Afraid To Own Gold And Silver. By Patrick A.
HellerCommentary on Precious Metals Prepared for CoinWeek.com As I have said many times, the number one reason to own some physical gold and silver is for insurance against declines in the value of paper assets such as currencies, stocks, and bonds. The price of gold is effectively a report card on the value of the US dollar, the US government, and the US economy.
The prices of gold and silver tend to rise as the US dollar falls or the US government or economy is weak. This relationship creates a huge incentive for the US government to suppress gold and silver prices.
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