Yes, the hype is getting up there.
I agree.....historically it’s overpriced when compared to silver...the gold to silver ratio right now is like 60 to 1, whereas the historical ratio is 16 to 1......I’m sick of hearing all of our conservative talk show hosts push gold....they are not experts in metals, so they shouldn’t be pushing it to the listeners they supposedly value. the only thing worse is Hannity plugging GM.
I think Gold will fall slightly, and silver will rise greatly.
Yes, the hype is getting up there.
Let’s review why gold is NOT in a bubble:
- Nothing can be in a bubble unless it is well past the previous inflation-adjusted all-time high
- Gold regularly drops up to ten percent in three days or less and once dropped more than twenty percent nearly without a break in 2008. Bubble price action goes one way.
- In every case, gold “corrections” have taken weeks and months to recover. Bubble price action is exponential — not a grinding, grudging “recovery”.
- It is almost a commodity, yet supply is not readily available. That’s a supply shortage, not a bubble.
- Boiler-room companies (i.e. cash4gold) are begging the masses to sell to them, not to buy from them
- CNBC is still bashing goldbugs instead of worshipping them
- We haven’t seen a TIME or Business Week magazine cover with a cartoony John Q. Public engaging in borderline-sexual acts with Lady Liberty from the Saint Gaudens Double Eagle
- Nobody you know, knows what Lady Liberty from the Saint Gaudens Double Eagle looks like
- Hollywood hasn’t yet made gold-related TV shows, movies, etc.