Bank of America Merrill Lynch
This has led some expert like George Soros to call it the "ultimate bubble."
But with global central banks expanding the money supply as they embark on ultra-easy monetary policy, many gold bulls like Marc Faber and David Rosenberg have called for prices to go higher.
There are also the ultra-bulls who think gold is headed for the stratosphere. For whatever reason, they argue that it could be worth multiples of where it is today. We've heard targets from $5,000 to $10,000.
There's even a rationale for gold at $46,000/Oz.
With prices plummeting, we thought it would be a good time to revisit some of the wildest gold price targets we've heard in the last year.