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How that Gold Bubble?

Good. I get to tell my co-workers who kept trying to get me to buy into Gold to F-off, just like I did when they tried to get me into housing right before the bubble burst.
 
I hope this will mean the end of the crazy cash for gold schemes that we all have seen over the past 5 years.
 
Doppel said:
The smart money is moving out of gold and into bitcoins.
Click to expand...
This was a joke, but I agree $500 is a more realistic point for this or $700 or something, it's still way over the top. I just looked at the 30 year price history, and it's still crazy high.
 
The longer that the world doesn't end, the more itll be corrected. Which is ironic because it'll be no good if the world did end.
 
xeemzor said:
I hope this will mean the end of the crazy cash for gold schemes that we all have seen over the past 5 years.
Click to expand...
I take it you don't listen to the radio very much. The cash for gold guys have inverted their schemes and are now trying to convince people to buy gold as an investment.
 
Gold is worth what people are willing to pay.

Physical gold and silver is in short supply (as noted by premiums over spot) as Chinese, Indians, and disillusioned Americans buy the "dip"
 
xeemzor said:
I hope this will mean the end of the crazy cash for gold schemes that we all have seen over the past 5 years.
Click to expand...

"Gold prices are at record highs! Sell us your gold for cash!"

"Gold is a great investment opportunity!"

"Gold prices are at record highs! Sell us your gold for cash!"

"Gold is a great investment opportunity!"

etc. Sometimes both at the same time.
 
I am no investor (mutual index funds, thanks) but if I had to invest in commodities I think I would go insane.
 
I knew the gold bugs were going to fail.

They were going all-in on gold as oppose to just allotting a small amount toward gold and buying over time etc.

Which means any drop of ~5% or so and they were all going to sell.

I would still consider buying honestly. I think there's going to be another big one like 2008 eventually.
 
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