By Daily Crux Editor Brian Hunt:

Gold is in a bull market right now... but there's a good chance the metal is in position to enter a mania phase.

Many of the mania pieces are in place... the loss of trust in paper currencies... a banking meltdown... zero percent interest rates. But the biggest potential driver of a mania is the belief that "this time is different."

After all, when "this time is different," the old measures of intrinsic value can get chucked out of the window... which can make any price look good.

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