Yeah, I keep hearing this, but gold is doing anything but skyrocketing. Granted, it’s up a lot from about 3-4 years ago, but nothing like what the doomsayers suggest. If gold were such a “hedge” and such a deal, it should be at $2000 an oz today.
That is because the Fed. kept interest rates artificially low. The time is NOW for rates to make up for lost time.
Also, the value of the Dollar was kept higher than it should have been also. Now that the value of our currency has finally started to adjust for Bernanke having monetized it more than 2 months ago, watch the value of Gold, Oil and fungible commodities to dramatically increase.
The recent increase in both Oil and Gold is the direct result of just what I explained above. (You do have a basic understanding of economics don't you?)