|
re: "The bubble continues to diminish."
Do you really think so? People told me the same thing every year for the last 9 years. Not one of them was right.
Look at the chart below. Do you see a bubble burst? Or do you just see a summer aberration that has returned to long-term support?
I think it's obvious that gold experienced exuberant and irrational buying this year, and then returned to its long-term trading channel. It was a predictable and necessary selloff, and even prompted me to sell a bunch of mining stocks in August and September, pretty near the high. (Unfortunately, I didn't catch the whole selloff, buying back too soon.)
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months |
| 