Gold, if you adjust the old time high back in 1980, gold should be near 2,000 dollars per ounce right now. You can hardly call something that is very depressed a bubble.
It will probably be a bubble someday, I fully expect that there will be hysteria in the precious metals markets in 5 or 10 years, who knows when. But right now, very few people own gold, and I can hardly call something a bubble when very few people own it.
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.