Just about everyone was bullish oil. Oil had also been comfortably over US$100 for quite some time. It's still played regularly on CNBC - "the price of oil is to the sky. Unlimited." Must make the speaker of that squirm every time he hears it!
However, the situation with gold is different.
Gold has risen every year for eight year's and this is now being noted against a backdrop of dismal performances and collapses everywhere else - eg. in most stocks and in commodities.
The ideal scenario is now here for gold and gold shares investing. A record low interest rate environment with everything collapsing around it while trillions of dollars are being printed.
The large hedge funds (they are much smaller now lol) have yet to move into gold. The mainstream investors have yet to move into gold. Rest assured they will. There will be a fight for them to all sqeeze through the gold entry door.
There is nothing as wild as a gold boom. We haven't seen anything yet. Gold and gold shares will go to prices that 99.9% of people never thought was possible.
