August 03, 2011
– Comments (2) |
RELATED TICKERS: GLD
Gold Isn't the Big Trend
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I think it's a bubble, but I think the Eurozone crisis and the US debt ceiling deal might push it up even further over the next 1-2 years. One thing to note: most huge bubbles do go parabolic at some point as fear and capitulation overtake the market ("capitulation" in this sense being capitulation in other asset classes, not gold.)
Gold might have one big, last hurray before bursting.
That said, I think silver, palladium, platinum, copper, and most of the other metals are very dangerous to hold right now. Another recession could expose how extremely overpriced they've become over the past year.
I absolutely agree with you on gold, Jakila.
I have not looked at copper or the other precious metals, but silver definitely looks overpriced. Note that silver already went 'parabolic' once, in April; perhaps it will do so again...
Warning! Silver Will Fall by Two-Third, Apr. 29