Gold just passed $1,200 per ounce.

Gold’s rise has support from fundamentals, but every time you see parabolic move, the bubble is forming. One of the key lessons for investors is “bubble has legs”, it will eventually burst, but nobody knows when.

In 2008, we had “mother of all bubbles” —oil price shot up to $147 per gallon. In 2009-10, we may well have another greater bubble, the gold bubble: $2,000, anyone?