Gold Is Going Nowhere…But Up By Joshua Burnett My father-in-law recently sent me an article from the Money section of CNN under the title: “Beware The 4 New Asset Bubbles,” written by Shawn Tully, senior editor at large at Fortune. Mr. Tully contends that there are four new balloons in the economy: Treasuries, Oil, Gold, and Stocks.  My father-in-law was primarily concerned with gold so let’s look at that. The “Historic Average” of Gold Mr. Tully makes several claims concerning gold. His first indirect statement address all four items: “They’ve already seen huge run-ups that put their prices far above their historic averages, and far above the levels justified by fundamentals.” Au … [Read more...]