Deflation Message Board - Msg: 26161850

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Non-Tech : Deflation

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To: JF Quinnelly who wrote (507)	12/8/2009 2:23:23 PM
From: Real Man	Read Replies (1) of 621

The third stage of the gold bull is always a bubble. It comes when people start to hoard it. While I agree, gold is quite dangerous, the bubble can last for years and gold could easily go to 5000 and above. The demand structure of the gold market certainly indicates a very strong hoarding component, which characterizes a stage when gold ceases to be a commodity and becomes an asset. It has a dual role. It's usually a process, not an event, so predicting a backward transition from gold being an asset to gold being a commodity is a difficult exercise. Gold also has sharp drops during its mania stage, like the one it's in now.

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