That was me as well as others HP.
If you don't recognize a bubble when you see it, I would say you need to take off the rose coloured glasses.
Anything that spikes like gold did at the end of its run & then collapses by 45% is displaying the attributes of a bubble.
If it rises, like a bubble, pops, like a bubble, then its probably a bubble...
I called it in a bubble on the way up writing a note to clients when it was trading above A$1820, so know hindsight Harry here.
I also said gold was oversold below $1200 & I still stand by that.
Over time the price of oil & other commodities may change that, as the cost of production reduces.
In saying that grade reduction & demand will also have their say in the mix of what drives the POG.
