Saying gold is in a bubble is comical. Copper, Iron ore, went higher this decade.
Gold would have to be 9x higher to back the money supply 100%. In 1980 it backed the money supply by 130%. That was a bubble. But you know what? It backed off to the 60-90% range and stayed there for a decade. Gold's bubble phase in 1980 lasted for a couple months. Then it just hung out at it historically correct ratio to the money supply until the late 90's. That was when the Brown bottom took place and the government manipulation peaked.
The point being, gold NEVER crashed. It spiked up to a stupid price for a month, then backed off and stayed in a historical trading range for ten years. That range was 5X higher than this price.
And anyone saying gold is in bubble needs to look at copper, and Iron ore. Their moves dwarfed what gold and silver have done. Iron ore is up 12X since 2000 and was up 17x in 2011--DURING A DEPRESSION.
The panic out of paper money and paper debt into gold has not even begun yet. Gold is not remotely in a bubble. The price move that all the gold holders are predicting will come about as a result of all the other correct things they have predicted has not even come close to happening yet. Gold has merely scooted along just above mining costs.