I wouldn't call it the titanic yet. Although I didn't buy at $3 either.
The fundamentals of gold haven't changed. Every couple of years there seems to be a financial crisis or country bordering on bankruptcy. Next one is the big one, the US. They simply can't compete against the rising economies of China and India. Perhaps the movement of gold to the east will even help make their GDP figures look good for a while. The US is the real Titanic and unbeknownst to most, it's just scraping the iceberg.
I wouldn't call it the titanic yet. Although I didn't buy at $3...
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