if deflation is coming, sell your gold, page-15

Grov

But the gold bugs are always 1 step ahead of the market IMHO.

So we have current buying due to lack of trust in the paper fiat money and fear of defaults (gold bugs last year/other investors this) and later momentum gaining speed for gold buying based on evidence of inflation (gold bugs this year/other investors - well that is a question of when not if?).