Gold, the next bubble?

George Soros, the billionaire global investor and fund manager, has recently been making some very unsettling comments about the price of gold. The whole bullion market across the world turned panicky when Soros made the loud comment that the gold price is the ultimate bubble.
However for some reasons he has still been investing heavily in the commodity with his SPDR Gold Trust fund. The biggest global gold-backed exchange fund increased its position in Gold by a whopping 152 percent in the last quarter of 2009.
So why is one of the greatest investors of all time buying into gold even as he continues to harp on the gold bubble talk?
I think Soros knows that the bubble won't burst at the current price of $ 1.125. The uncertainty in the Eurozone and the ballooning deficits in the U.S. will encourage investors to buy into gold for the next 3 months or so. The price of an ounce could easily go up to $1500. However Soros is right in a way that during times of very low interest rates, certain assets have developed bubbles. He strongly believes that Gold is the next one to burst. But until then, a lot of money can be made during this period, if one buys gold diligently. The only question that remains is when will it burst....