Fresh out of the bursting of the dotcom bubble, one of Fat Prophets’ early calls was to buy gold at around US$262 an ounce. This was on the basis that the ensuing monetary easing by the Fed would erode the intrinsic value of the US$. Such was to prove correct, with the precious metals sector surging, as gold surged in the ensuing years to reach a peak of almost $1900 in 2011.