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Food containing gold suggests that the person consuming it is a high roller, so it’s usually found in luxury items such as caviar, or in decadent desserts. It’s also an ingredient that can be used in many recipes, and gives even an amateur cook the ability to whip up something unique.

Results of a Gallup survey shows 34% of Americans find gold as the best long-term investment. The second best investment vehicle is real state at 19% and stocks at 17%.

The interesting point is people from any gender, age group, income, and political view find gold as the best long term investment. Older men are noticeably more inclined toward gold as investment.

MacNeil Curry, head of foreign exchange and interest rates technical strategy of Bank of America sees gold prices fall to $1,462-$1,576 before resuming the uptrend in the larger secular gold bull market. The strategist sees similarities to the 2006 breakout and reversal pattern.

See the gold chart below. Click for current prices.

RBC Capital and Citigroup, separately upgraded shares of Newmont Mining (NEM) expecting gold prices will continue to rise. RBC has now “positive” rating on the shares with a target price of $87, up substantially from $67.

Citigroup has now a “buy” rating for NEM and set a target price of $76.

marc faber

Marc Faber who maintains his bearish view on global markets suggests investors keep keep 20-30% of their assets in gold "in a safe deposit box ideally outside the U.S."

The publisher of the Gloom, Boom & Doom report believes the West will have a “very muted growth” for the coming decade due to deficits, entitlement obligations, and debt overhang.

While global stock markets struggle with deteriorating economic news and sagging technical indicators, one asset class has been in a streaking uptrend and that is gold.

Variously viewed as “the barbarous relic” or the new world currency, gold is captivating investors’ attention as it has for thousands of years.  And it’s easy to understand the interest as gold has gained more than $330/oz since July and is up more than 20% year to date.

Wells Fargo said on Wednesday that gold market is a “bubble that is poised to burst”. The bank did not provide specific details but mentioned that “There could be substantial risk to gold once the fear that the world is coming to an end subsides… We are worried about the downward risk.”

“We have seen the economic damage” of past bubbles and “feel compelled to ring the warning bells,”

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