yes, if you do your research you will see that it's in a cycle, which will end a big mania peak, and come crashing down like in the 1980s and many times before. it is not the kind of asset you should expect to appreciate over the long term, it will just cycle between undervalued, overvalued.
however there are huge problems with the world's financial system right now, and it's gold's time to shine. many believe that the train has barely left the station. the herd is yet to arrive and it will be big :)
just watch the news and see the crisis getting worse and worse, and the attempts to stem it failing repeatedly and making the inevitable even worser.
