"Roubini has been predicting that gold price is in a bubble as there is is no fundamental reason for the historic high price of the yellow metal these days"

Nouriel is wrong.

The basic, elementary, fundamental reason for the historic high in the gold price is simply that many nations, led by the USA, Europe and Japan, are printing money out of thin air, backed by nothing - no assets of any kind.

This massive new debt can never be repaid except through rampant inflation where every $1 billion in debt magically becomes $100 million......or through default (bankruptcy) in which case the value of the defaulter's paper money goes to zero.

This makes people with money very nervous and very scared. So they use their money, which still has some value, to buy physical gold and silver.

Since pure gold and silver coins or bars cannot be produced out of thin air or manufactured in a lab, their value is intrinsic and cannot be diminished by any act of government.

That is not a bubble. That is a cocoon. And from this cocoon, the owners of gold and silver will emerge once the end game is in sight.

Fred25