Peak or Boo?
Why is it that when people talk about gold prices they use the word "peak". "It hasn't peaked yet" or "it has a log way to go before it peaks". When they talk about stocks they don't say "GE hasn't peaked yet" or "Apple hasn't peaked". And what is on the other side of the peak? Is it like the peak in 1980 were went from the low $200 range to 900 in two years then dropped 50% in less then a year and continued down to the $200 range in the following years? Are gold investors some kind of thrill seekers that like the ride? Are they seeing how close they get to the peek and then pull out?
Or do they think this time will be different from the other times gold peeke? When gold was at $450 it cost about $450 to produce. Then came the gold ETF. Now it still cost the same to produce but is 400% of the old price. Inflation, the weaker dollar account for about 30% of that but where does the other 360% come from?
Safe haven? History tells us that when the fear subsides the price goes to the production cost or lower. Is that where the word peak comes from?