I know, this is getting silly but they keep on biting. People need to understand the scam that is gold. The same thing happened back in early 1980. Gold was said to be the only way to hedge against inflation...blah blah blah. It went up to 800 $/oz and then it magically crashed down to below where it had been for the previous years. The people pushing for gold as the best investment out there are those that have been holding it a long time and have a huge inventory. They are cashing in, you are getting screwed. The price will eventually crash when all the long term institutional investors have sold off the holdings they desire, and all those that bought recently will cry they were scammed.....not really, just misinformed or greedy perhaps.
Those same investors that just got done making all this money will then sweep in and buy up all the gold they want at half the price or worse. Rinse, repeat. They keep getting rich and the poor fool who doesn't understand how it all works just keeps screwing himself yet blaming others.