Gold Bubble Bursting?

Discussion in 'Economy' started by Mad Scientist, Nov 16, 2010.

  1. Mad Scientist
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    Mad Scientist Feels Good! Gold Supporting Member Supporting Member

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  2. uscitizen
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    uscitizen Senior Member

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    DanG! You mean I will not get a 200% increase over my purchase price? what a ripoff.
     
  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Bubbles always burst..it's just a matter of when.

    The one countervailing force is inflation. The Obama Admin's ongoing efforts to devalue the dollar may provide support for gold prices in nominal dollar terms.
     
  4. Toro
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    Toro Diamond Member

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    Maybe, but I don't think so.

    Generally, bubbles tighten when monetary and fiscal policy tightens. We are nowhere near that yet.

    But maybe it's different this time.
     
  5. Paulie
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    Paulie Platinum Member

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    It's a long overdue correction.

    Gold was overbought big time.

    Establishing new support and then continuing higher. There's not a damn thing to stop it fundamentally right now.
     
  6. Toro
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    Toro Diamond Member

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    There have been a few corrections of 10%-25% since the gold bull market began.
     
  7. Paulie
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    Paulie Platinum Member

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    Yeah the last one in October was pretty decent.

    I'm still seeing higher lows and highs though. Support is around 1320. We'll see if it holds.
     

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