I'm a goldbug, first and foremost. Given the Bear's bailout and the way Fed's throwing money at the problem (with newly invented 'windows' or 'liquidity injections' every other day), it is difficult not to imagine that at some point, this will be decreasing the value of the dollar. Deflationist and inflationist may argue about whether the rate of monetary destruction is currently exceeding its creation. That matters, but i think what also matters is if the world is willing to take the dollar for much longer. After all, who wants to hang on to a falling asset. What also matters is if the value of the dollar is going to rise or fall, in terms of material it can buy (rather than relative to other currencies), and given that inflation is on the rise and the print press is in full swing, i'm betting it's going to fall in the long term. Given inflation flaring up across many countries (China, States (even if CPI is overtly optimistic, it is still ticking up)). Gold has always been the preferred hedge for inflation, and I'm hoping to ride this bull until it dies out some time a few years from now. NOTE: short term volatilities are present, have a long term view on this is crucial since short term gold can point to any direction right now.