But we're now entering a global deflation (not seen since the 1930s). --------------- Menta Why would you claim deflation is now to begin? Do you not regard the market meltdown & housing collapse as being severely deflationary? At the same time POO & POG fell sharply.Of these the only one to recover & rise to new highs is gold. What is it you see as being a threat to gold that 'we're now entering'? Or is that you are simply cautioning against the 'gold is going to the moon' fervor expressed by some?