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LOL, sounds like a buddy of mine that was buying real estate four years ago.

It's true that at some point gold will be in a bubble and then it will be time to sell. It's not that time yet. Right now is like year 2001 for real estate, year 1994 for tech stocks, etc. We are far from a bubble for many reasons - but the *main* reason is that by definition, a bubble peaks once the public goes "all in" on the asset class in question (that's what drives the asset class to over valuation). The public cannot spell gold right now.

Your take on the post 74?

My main comment is that I can't decide if the post is sophistry or stupidity. The poster is clueless and due to his flawed world view and analytical framework has probably watched gold rise from $400-500 to its present price, all the while telling you why it is over priced. He'll keep doing so until it gets massively overvalued (5 digit handle) and then he'll buy - that will be the top/bubble/etc.

The price of gold is set by traders that take into account things other than exchange rates.

the price of gold, like everything else, is set by the market - that is more than "traders". It's also actively managed by the gov't-bankster complex, it's on sale now, so get it while you can.

Half the gold mined is jewelry and people buying wedding rings don't check exchange rate trends.

rings aren't bullion. Their value is made of artistry, labor, brand, etc. The gold in a wedding ring is probably worth $10,000 per ounce if sold by weight.

A third of the world's gold is investment/reserves, and while exchange rates are important most will dump it during a selloff regardless of exchange rates.

most will dump gold during a selloff of gold? How much gold was sold off by central banks, trusts, etc during the selloff in 2008? Not much. Also investments and reserves are 2 different things, but he's lumping them together here

Supply affects the price too. The total quantity of gold that's been mined in the world doubles in less than 50 years, and we've so far only dug up about less than 200,000 tons of the 600 billion tons in the earth's surface.

probably the most clueless part of the post. Gold production is declining, just like oil production is declining. We're at peak gold. Prices are at all time highs yet production is NOT increasing, it's decreasing.