Sunday, August 28, 2011

Is the Gold Bubble About to Burst?

The price of gold declined this week, leading many analysts to believe a significant correction will continue. "Briese believes a 33% correction from recent highs, to about $1,250, is quite plausible."

The proprietor of one Madison retail store that buys and sells gold warned a customer on Saturday that he will not receive the same price for his jewelry on Sunday, and the store has already made arrangements to sell off its entire stock of gold early this week.

Those who took investment advice from Glenn Beck and G. Gordon Liddy are in for a bumpy ride.

1 comment:

Dan said...

I don't think gold will go down that much.
But if people listened to the gold advertisements 3 or 4 years ago and bought gold back then, they are still way ahead of of those dpended on stocks and bonds and not gold.