Is Gold a good buy?

It looks like that may be the case because the Chinese and the Saudis have lots of liquidity and people are forecasting dollar weakness. This article is pro-gold but it seems that every article you read is also pro-gold as well.

Meanwhile, crude is back to $58 a barrel, leaving the Saudis with lots
of petrodollars to sock away. China's in the same greenback-heavy boat, having
kicked off 2007 with another huge monthly trade surplus. And the standoff over
Iran's nuclear program doesn't appear especially likely to end well.

Well some of the risk premium might come off now that North Korea is out of the mix. That Iran thing is still front burner though. I wonder what is keeping the Saudis and Chinese to plow that excess money into US or European debt instruments instead of gold? It always seems that every time I hear about gold they have the price going to $1300 an ounce or some crazy thing like that. You never see that kind of pie in the sky talk from Growth mutual funds or something similar. Oh well it seems gold-bugs are always chasing that big gain even though $1300 an ounce gold will mean that the economy is in the toilet.