Why gold could hit $8,500 an ounce

Inflation is rampant and bonds and gilts are worthless. And while there may be a bubble, it's not in commodities. John Stepek looks back to the 1970s, and discovers how the price of gold could rocket.

The next bubble to burst won't be commodities

From the late 80s until now, that sleazy operator inflation barely got a mention, though we were living through two decades of never-before-seen money supply growth. Who cared? He was serenading stocks and houses and we were getting richer. "That's nice," we said, "but ssshh".

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.