Gold: Inflation will beat deflation and gold will hit $3,000

Last July I wrote an article for telegraph.co.uk suggesting that gold had lagged other commodities in general and oil in particular and that gold would hit $2,000 an ounce over the next two or three years.

At the time oil was trading at $140 a barrel and using the gold/oil ratio I suggested that either oil was far too high or gold at around $900 was too low.

Since then all other commodities have collapsed in value, with oil showing the most spectacular collapse of all, falling to $35 a barrel, while gold is now higher with the price having moved up to about
DailyTelegraph