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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (17342)	7/5/2010 9:02:57 PM
From: Real Man	Respond to of 24758

Irrational or not, gold secular bulls typically end in epic manias like one in 1979. It is difficult to argue that 5-fold increase for gold since 2001 is a bull. I think we are just in the beginning stage of that, some think otherwise. Gold manias are characterized by hoarding behavior due to bad economic times, and gold is traditionally an asset, a "commodity currency", held by central banks and in private hands. Many folks hoard more practical items, such as guns, farm land and food cans, but gold tends to go up as well. <g> In other words, during the 3-d and final leg of the gold bull market gold is no longer a commodity, it's an asset, purchased by investors. Something we are witnessing right now, with 30-40% of total annual demand coming from investors. I don't know when it ends, but gold is still too low for the end of the secular bull move by multiple measures. My guess is 3-5K within 3-5 years is where the gold bull ends.