Of the four bull markets we've witnessed in the past decade, only two continue.

The tech bubble burst in late 1999. The U.S. housing market bubble started to deflate in 2005. Only two bull markets remain: China and Gold. My personal bet is that the bull market in gold bullion will outlive the bull market in Chinese stocks.

While I remain bullish on China's long-term economic growth, the rise in the main Chinese stock index has been too steep too quick. Bull markets that rise too fast are prone to severe corrections at some point.

As for gold, the road to higher ground has been slow and steady. The bull market in gold really started in mid-1999 when an ounce of gold was going for about $250.00 U.S. per ounce. Fast forward to today, and that same ounce of gold will cost you about $665.00 U.S. -- a rise of 166% in eight years or nice, steady growth of about 21% per annum... a bull market almost unnoticed by most investors.

So what's the deal with gold today? Over the past year gold bullion has been stuck in a trading band of between $600.00 and $700.00 U.S. per ounce. Looking at the charts, I see gold getting ready for an assault above the $700.00 price range. And I also see many quality gold-producer stocks selling at very attractive prices.

We are told by central bankers around the world that inflation is a problem. We are also witnessing interest rates moving higher in most countries while the U.S. dollar continues under pressure. Can gold bullion become the choice "currency" for investors to park their cash in the short years ahead? I believe it will.