I know, it's getting really old and boring these gold topics. Every one knows it will continue to go higher so there is very little left to discuss. Ofcourse you have the obligated contrarian who has been screaming for it to collapse to 500$ an ounce because it is overowned, overtouted.... Gold ads all over, soccer moms are buying it, the majority is always wrong, you can't eat it, it does not pays a dividend... As I said, we have all read this a 100 times... What else is there to say besides it breaking it's all time high once more?
How about that the central banks are buying more and more gold now. Hmm...I wonder what thats about? Dont they trust their own paper? http://finance.yahoo.com/news/Centr...0.html?x=0&sec=topStories&pos=5&asset=&ccode=
Yeah...should probably dump anything with a chart that looks like that, like this chart of AAPL. I mean if AAPL was $25 when Gold was $250, and now AAPL is $270 and gold is $1260...that must mean AAPL is REALLY ready to drop...I mean since we are only looking at charts. If gold made those gains we would be at $2700 right now.
Lil emotional about GC are we? I never said "dump", your words... Since you posted the apples-oranges charts ...AAPL from 01-08 looks like GC does from 00-10. Nice correction there, no? Sick trend? YES! Insane oppurtunity to get rich? YES. Sustainable? Nope.
Check again. Your Gold chart was over 20 years while my AAPL chart was over 10. They had the same correction at the same time period, only on your chart it doesnt look like it lasted as long because your chart the years are bunched closer together.
Ok, true. And both are unsustainable without some consolidation. Would you buy AAPL here for anything but fast money? Would you suggest to someone looking to enter into the physical gold arena to buy coins here? I certainly would not. I own some gold, but I aint adding here. No way.