My thesis for gold has always been about demand, not currency gold bugs. Gold as a currency is as insane as it gets, and I am not a supporter.
The thesis was and is, as India and China get richer, the 2.5 billion people there will consume more resources & gold. In addition, ALL RESOURCES will get constricted as the USA, a vast consumer of resources, gets pinched with inflation on resource prices. I choose gold simply because it seems like a more direct play, and it does have the 'bonus' of gold bugs behind it.
Well today my friend John sent me an email about how India is moving to lift Gold import restrictions. India placed these restrictions back in September 2013 in post 'Gold has anything changed'.
The irony is gold was falling, not rising in price when India did this, and China immediately picked up the gold buying slack preventing gold from falling significantly farther.
Once this comes to pass, I have a hard time seeing how gold can go down in price the next 11 months. Everyone should be well positioned now in ETF's GDX & GDXJ