As we like to remind our clients, this is not a typical bull market. Gold is not rising in value; currencies are losing purchasing power against gold, and therefore gold can rise as high as currencies can fall. Since currencies are falling because of increasing debt, gold can rise as high as government debt can grow.
This is a more honest and accurate way of measuring gold’s real value. Gold is not just another investment vehicle, comparable to bonds, stocks and currencies. Gold is the anti-currency. It is real money whose value has been consistent for 3,000 years.