Skol: Yes, it will be, because at the end of the 70's everyone was worried about oil being scarce and expensive. A lot of exploration revealed more oil, and Arab states are having their day in the sun. But now we're at the tipping point for production, and until new portable energy sources turn up that are far cheaper than oil, the world economy is in strife.
BB: if there are no other causes other than speculation on the gold price, how do several charts we've been posting show very high correlations against factors like the US$ (negative), the oil price, and
particularly the amount of foreign investment in US bonds? I think you're being too simplistic.