David Rosenberg: Forget Gold $1300, It’s Going To $3000

Just because we hit that that big round-numbered milestone of $1300/oz this morning, don’t think that we’re at the peak of a gold bubble. That’s at least how David Rosenberg sees it:

It may be overbought on a near-term technical basis, but gold — now on the precipice of breaking above $1,300/oz — is likely to remain in this secular uptrend for quite a while longer. We’re talking years. We’re still talking $3,000/oz. Gold has made this transition this year away from being a strict commodity towards a role befitting a monetary metal that is no government’s liability. Look at what is happening around the world.'

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