Bull market or bear market -- where does gold stand now?

``Rick Rule in his presentation on the Tuesday pointed back to 1975 as being what he thinks is likely to happen again. Those with long enough memories may recall that gold virtually halved in price back then over a 2 year period down to close to $100. Commentators and analysts at the time were predicting falls back towards the $40 level from whence it had risen over the previous three years. It had been truly written off, but this was the inflection point after which gold rose about eight times up to around $800 plus before it came crashing back down again to settle at the level from which the recent, or current if that's your viewpoint, bull market developed.''