i hate to use the term 'this time its different', but, Gold is...

i hate to use the term 'this time its different', but, Gold is currently being purchased by many new entrants to the market. Super funds, Soverien Wealth Funds, Private Investors, many that normally have little to do with the physical product. The issue is many of these buyers have long positions and not interested in selling for quick profits, such as myself. Gold currently, is undervalued when indexed against inflation and still has room to climb. As with all markets you need buyers and sellers, there at present id more buyers with long positions than sellers by a significant ammount. Even though thr price has climbed rapidly this year, I posit that the price is correcting towards a historical inflation adjusted level and we will witness a sustainable climb for rest of the next year. Even if there is a reversal of the physical gold price, many people who hold the metal are willing to weather the storm. The fresultant price after a crash is likely to remain higher than the pre-crash levels with the investor still holding something of value after a crash.