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Hey Carl:
Your graph stops at 2007 or so.. If you look at the whole picture, the volatility in gold over the last 4 years or so is LESS than the volatility you saw for that last boom. IN FACT, gold market has had a lower volatility than most of stock exchanges..
The run-up is based on largely on lack of confidence in the economy and how honest our leadership has been about the scale of our problems. Last time gold ran up, you didn't have countries in Europe defaulting on their debt or a US budget that's doubled in jsut a few years. And a job picture that forces us to realize just how badly this country is sinking.. It's justified..
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