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5 comments

1 engineer cat  Fri, Apr 12, 2013 12:01:06pm

it was clearly an investment bubble, furiously stoked by online and tv ads forecasting immanent financial collapse

any student of financial/investment history would have clearly seen that the price had to peak and decline sooner or later, and that any investor would need to carefully guess when would be a good time to cash in and get out

2 Aligarr  Fri, Apr 12, 2013 12:09:25pm

Gold has been climbing since $ 330 an ounce .Market is up , there’s tons of money on the sidelines starting/ waiting to jump into equities . The Drop in Gold should have been predictable to investors . I bought at $331 and set a sell at $1250 . Some said it would surpass $2000 .

3 Destro  Fri, Apr 12, 2013 12:21:26pm

re: #1 engineer cat

God knows how many people get gold fever watching those gold mining shows where people spend fortunes looking for gold and barely find any to cover their costs. The only way they make money is from the show itself. But it fuels those people out there in the red states that have gold fever and dream they could go out into Alaska and find gold and become rich.

4 kirkspencer  Fri, Apr 12, 2013 12:54:08pm

Peak of slightly over $1880 in July of 2011, gradual decline since (but with occasional spikes). I wouldn’t touch it these days.

5 Cap'n Magic  Sat, Apr 13, 2013 9:07:22pm

As a commodity, GLD has had a decent run. But when the goldbugs keep screaming that gold is money, I ask them to show me on their buillion slabs where it states that this bullion is valid for all US debts private and public.

Sadly a lot of these goldbugs also subscribe to the Austrian Theory economists, who have yet to show that any such Austrian-based economy exists in the real world, and can’t come up with a definition as to what ‘honest money’ really is.


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