In his latest note, David Rosenberg makes the case that the bull run can continue in part by comparing it to other bull runs.
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As you can see below, gold’s huge rally isn’t anything compared to what other markets have seen. If you think there’s a “bubble” now, you’re not even in the right ballpark, he argues. His call is for $3,000 and argues that if gold were to reach its old “price to world GDP peak” it could go to $5300.
