4.16.09
One thing I find interesting in my travels is that, when gold comes up for discussion, whether with friends or strangers, most people show curiosity but most dismiss the idea and think it’s too late to get involved.
Some even think there’s a bubble. What is peculiar though is that most people don’t own it. If it were a bubble, then everyone would ALREADY own it and they would be trying to TALK it up because that’s what happens in bubbles – it’s already owned and people can only try to talk it up because there is no more buying pressure to actually push it up.
I discussed gold tonight with a group and though some people knew about the history of our currency being backed by gold and silver in the past, and though some people knew about the reasons for owning gold (or not owning it), surprisingly, none of these people owned it, nor did they even know how to buy it. These folks were all age 60+! Maybe some of them think gold is in a bubble!
Gold is not in a bubble though in my opinion – it is becoming more widely owned and may someday achieve bubble status but in my opinion, we’re not close yet.
Chris Grande
