[Perdogg]

QE3 is now almost a certainty.

[razorback-bert]

enriches Goldman Sachs (and other so-called “primary dealers”) with tens of millions of dollars in needless commissions each month.

What a sweet racket and it is legal too.

[ComputerGuy]

I've seen two TV shows about gold where it was claimed that the total volume ever mined by mankind would make a cube less than twenty yards on a side. Amazing, if true.
My gold-fund stocks have done quite well. Sadly, I have a weakness for numismatic gold, and spend more than I should on the stuff.

[Jagermonster]

Gold is in a bubble based on purchasing power. Think of Buying a decent men’s suit, shirt, shoes, tie, etc as the rule of thumb purchasing power of 1 oz of gold. This has been roughly so for the past century. However, at $1500 an oz, we are way out of that territory.

Buy it as a safeguard, if you want, but not as an investment.

[Daveinyork]

Soros’ hedge fund has been selling gold and silver, according to the Wall Street Journal. Watch for an economy wreaking constriction of the money supply, which will hike interst rates and crash precious metals. Remember 1980.

[martin_fierro]

[Mr. Bird]

During the dot-com bubble, you met lots of people with tech stocks. Taxi drivers told you what dot-coms they owned.

Now that's just silly. I can find as many cabbies who have gold today as had AOL in 1999. The idea that the average Joe held a fortune in tech stocks is just ridiculous and revisionist. The average Joe was benefiting from the dot com bubble through the (false) creation of jobs.

I do not know if gold is a bubble. If it is, I feel sorry for everyone waist deep in it. If it is not, I guess all the gold enthusiasts can get together and trade their gold like baseball cards, if there are so few of them.