Cylinder, I'm surely no Economist either! But a little broader reading on the net should convince you that it is not that gold is a bubble, but that the U.S. $ is collapsing, gold being quantified in U.S. Dollars here.

Part of the rapid fall of the U.S. $ is by design of the U.S. Fed who see a cheaper dollar as a means of increasing exports. But regardless of what the Fed does, the U.S. dollar is screwed. As the World's reserve currency, it had mammoth strength and remains the last resort for movements out of other currencies. Confidence in it is now ebbing fast and that is why you are seeing paper money holders rushing into gold.

So far, this is just the thin edge of the wedge. It must continue, albeit there will be increasing volatility in gold prices, to frighten those unaware of the underlying certainties.

Best, O.F.