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> everyone rushes

Who is rushing to buy gold? I'd be surprised if more than 1% of households have meaningful gold exposure.

Look at this graph: http://blog.thomsonreuters.com/wp-content/uploads/2011/04/GL...

Is that the sign of an investment that keeps growing in value steadily across the ages or merely the sign of a speculative bubble about to burst? Hint: look at the late 70s as well.

Have you considered that the chart merely shows the value of gold in US dollars, and that it could be, this time, that the US dollar is the speculative bubble that has been bursting for some time now.

It has two lines, one is for prices adjusted for inflation (the blue line), the other (the yellow line) is with absolute prices.

Inflation rate doesn't properly reflect the change in the value of the US dollar. A better line would be one adjusted for the growth in money supply.

Inflation is the proper measure. The chart might not say what you want it to but that's not it's fault.

Ew. Is there a version of that graph that's on a logarithmic scale?

I'd be surprised if more than 1% of household had actually held tech stocks in 2000, also.

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