For those who say gold is in a bubble? Well, all I can say is that they have never seen a bubble - nor a mining boom, nor a rush.
Evidence? - Monday morning 9am - Kambalda West. I walked outside in the industrial area - what did I hear?
Zip. Nothing. Not a sausage. The silence was deafening.
Coolgardie industrial area yesterday afternoon - very similar.
Kalgoorlie - steady pedestrian and vehicular traffic - all week. Nothing rushed. Steady service at counters - all places. Food, autoparts, service stations etc. etc.
Now - that is DEFINITELY NOT a gold rush or a bubble. In fact this is as far from a rush/bubble as you can get without being in depressed times.
And could it be fifo that is making the difference atm? - Nope. fifo or no fifo - mining and services still need supplies and services - and there just isn't a rush atm.
For those that haven't seen one - a rush/bubble is a frantic thing. You get people doing things at breakneck speed. You get people flying into service stations to fuel up. You have massive queues at the bar for a drink on friday and saturday nights - you have enormous trouble buying some things - mining things. You get people rushing away and buying stocks on the latest rumour.
this just isn't like that atm - everything is business as normal.
There is a background buzz though - conservative people are taking about it - 'gold is the next thing' - even conservative accountants are talking to their clients about it. - and the buzz is getting slowly louder. One of my mates connections accountant has been poo pooing his gold investments for years - and now, for the first time ever, has asked for information on a local goldminer - saying he wants to recommend it to his clients ---- first time ever??
This is the grass roots area - so we are probably a way from a manic phase yet ------ but,it might be starting a run soon - or maybe it has started already.
You will know when it happens - it will be a hell of a jostle to get a salad roll - and at the moment - they even have time to ask you if you want salt and people are waiting for their change -------------------- no rush here - guaranteed.