A well written presentation explaining why gold is not even close to being in a bubble. Page 13 is the clincher - price of gold to cover US money supply via M2 would need to be $7000 an ounce.
The much followed Jim Cramer on CNBC points out that as a % of worldwide investments gold investment is approx .6% -he won't even hear of bubble talk until this figure moves closer to 5%
NCM Price at posting:
$42.65 Sentiment: Buy Disclosure: Held
