But for many reasons as outlined in the first link, I continue to be bullish on gold. In fact, I think the the next rise in gold will likely be due in part to the misconceptions that the majority of investors have about gold and macro. So when QE3 comes (which is a huge monetary non-event, is not inflationary, and actually removes income from the non-government sector) and misperceptions and emotion abounds, it will be fuel for the more legitimate reasons that gold continues to be in a bull market.
With that, here is my updated long term count on gold:
