Will gold enter a mania phase?

As I've said before, DailyWealth.com is often a good read.  In this entry, Brian Hunt explains why gold may explode to much higher prices.  Interestingly, he feely acknowledges that the highest prices we see in this cycle are likely to be irrational.

As we've noted many times in DailyWealth, you can make a good case that this time is different. Never before has the nation with the world's reserve paper currency – which is backed by nothing but faith in a bankrupt government – promised so much to so many people (Social Security, Obamacare, unlimited military commitment).

Think we're already at the mania phase?  Maybe, but take a look at Brian's chart showing gold as priced in euros.  If I'm right, gold will also spike in dollar terms, and I expect it to leave the area of the chart and climb at least 3-5 paragraphs up the page.  Of course then the question will be, "When do I sell?"


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