I have argued that the monetary role of gold has
long been abandoned by the CB's
zeev, that may be true, but all objects that contain value, equities, bonds, commodities --- are subjective to the extremes of euphoria and despondency.
supply/demand dynamics can change on a dime like sentiment, in early winter last year there was a great undersupply of yahoo, aol, cmgi, going into sept/oct, there was a great undersupply of glw, nortel, jnpr, cien.
every financial asset is subject to this, even gold -g- |
