My rule of thumb is, if grandmothers are 'getting into the business'.....
Do you have any 'inside information' Arthur?
Do you have any 'inside information' Arthur?
how you know Gold is NOT a bubble
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Do I have any inside information? As a grandfather myself, I have been inside a grandmother or two. But no, I am one of those dumb retail traders who buys an ounce on a regular schedule whether it's going up or down. It is notable that higher quality and artistically attractive bullion like the Eagle and the Buffalo are in short supply, as from time-to-time are the more attactive one ounce bars like the Pamp Suisse. But you can buy all the ugly Krugs and Scotia rounds you want.
You are welcome to your opinion, like everyone else.
As gold has very little intrinsic value, and the vast bulk of gold is held for purely speculative purposes, it is by definition speculatively-priced, so it is by definition in a bubble virtually all the time. When Rolex starts making Presidentes out of oil instead of gold, perhaps that will change.
It has hit mass psychology - gold talk is *everywhere* - however it hasn't taken hold of mass psychology like it once did. Which makes it likely to be a soon-to-be-deflated bubble.
Cheers.
We both know that gold doesn't HAVE to do anything. I'm merely pointing out that mass psychology is nowhere near bubble status as some would suggest. I think gold could go to 14,000 an oz. Like the Dow did. Will it? I dunno. As it is, its still fuckin cheap here adjusted for inflation.
$1123.60