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To: ms.smartest.person who wrote (1094)	5/20/2006 2:02:49 AM
From: ms.smartest.person	Read Replies (1) of 3198

Gold: Mania Phase: Speculative fever has gripped the gold market. 10:43:00, May 15, 2006 The gold price surged to over US$720 per ounce overnight on the back of growing inflation fears and speculative demand. Gold prices have risen almost 20% in the past three weeks alone and are now deeply overbought, highlighting that a “mania” is underway. Gold prices have now far outstripped our cumulative liquidity measure that had correlated well with bullion prices in the prior 30 years. Meanwhile, sentiment towards gold has reached record optimistic readings, even surpassing the apex in the earlier mania phase in 1979-80. From a contrarian standpoint, this may be a sign of an impending top, although with prices climbing vertically, timing a correction is dangerous (see the next Insight). <tr><td align='left'

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