Nearly Everyone Declaring the Gold Bull Run is Over.
Gold sentiment has now become beyond negative. It is as if gold is dismissed now. Even long-term goldbug Richard Russell today wrote that he doesn't know what to think about gold and he doesn't know how to advise his subscribers (he has been a steadfast goldbug for decades). Also, NPR did a segment today that discussed the end of the gold run.
Even during the spike low in 2008, it seemed like it was still a battle between gold and fiat. Yet now, I sense a clear perception shift. I know bullion and central banks are buying and a small segment of the population is buying like crazy - but for the most part the general perception seems to be that the gold run is over.
I've bought more physical this week, and I'm holding on, but it is a bit eerie seeing long term gold bugs with deep conviction now talk with a shaky voice.
How stupid can you be? Biggest one day drop since 1983? Doesn't that tell you anything?!? It's over. Gold price is collapsing. Get out or you are going to lose a lot more money. Gold never has anything to do with fundamentals. In 1980, the fundamental story for gold was good too but gold price still collapsed.