Yeah, seriously dude!! I am seriously talking about a housing bubble to draw a correlation between housing market and gold. Do you think it matters whether a bubble is in housing market or a commodity? Remember tulip mania in the 1500's? Just because it is a commodity does not mean that a bubble cannot happen, in fact it is much easier in the commodities market because the intrinsic value of gold is much harder to determine rather than the intrinsic value of things such as house or a car, in terms of dollars. Yes, in LONGER long term (in long term we are all dead, as Keyens said) the prices of house and gold will always go up. It is the Longer short term or Shorter short term that you have to worry about.

Debt ceiling? Really? Do you think that they are not going to come up with a solution? Really???

Weaker Dollar? Maybe it has some way to go but so has other currencies around the world? Remember everything is relative. What is the dollar going to fall against? Euro - It has its own problem. Yuan - It is pegged. Yen - maybe.

Inflation? Don't be a sucker and apply what you learnt in the school as is. Market does not look at inflation but inflation expectation and it is already baked into the current price of gold. In the event of QE3, which I believe is highly unlikely in current senario because it does not have enough political apetite, yes it is possible otherwise, inflation is a non-issue at this point.

Smart money has already left Gold. Now all you have is late entrants and speculators left. My personal cue was Soros hedge fund selling all their gold position a month or so back. We make our own personal decision. I have made mine sold my position to make a nice profit. If you seriously think that gold is going to go up by 50% or 100% from here, then gold might be for you. For me, I am done with gold, for now.