Gold at $3000? Only if Bubbles Repeat…

This chart tracks the performance of gold since April of 2001 against the three largest bubbles of the last 40 years. Past bubbles have shown strong but steady growth for the first 7-8 years before moving into a hyper-growth phase for the last 18-24 months. Each series begins at the lowest point of the previous cycle, is adjusted for inflation and is smoothed with a 3-month moving average.

Sources: Yahoo Finance, LBMA, EIA

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