Gold Rush May Mean Inflation Bust

Gold rising along with the dollar — and with oil jumping to record highs near $60 a barrel — may signal serious inflation woes ahead.

It’s enough to give a gold bull deja vu.

A handful of precious metals insiders at the recent New York Institutional Gold Conference predicted that the price of spot gold will hit $850 an ounce in the next few years from its current level near $440.

The last time it got anywhere near that high was in the late 1970s when out-of-control inflation, unrest in the Middle East and an oil crisis pushed the precious metal from $150 to $810 a troy ounce.
CNN