Silver, Gold And The Coming Deflation Commodities / Gold and Silver 2012 Jul 05, 2012 - 02:03 PM By: Hubert Moolman Historically gold has made its significant gains, relative to other assets (as well as nominally), not during inflation, but during deflation (Note: I am using the terms inflation and deflation very loosely in this case). These significant gold rallies historically occur when value flees instruments such as stocks and certain commodities. Since the 1920s there have been three major gold rallies (1930s, 1970s and the current rally). All three major gold rallies came after a significant top in the...