RE: Bashers out in force, low must be near The "bashers" have good reason for the position they are taking. Gold has been on the rise for 10 years, at a time when the economy was/is on the skids. The American dollar is showing signs that it might be in the rise (along with the American economy), and because gold is priced in U.S. dollars, when gold rises in price it also rises against all world currencies... meaning that you don't pay the spot price for the stuff, you pay the spot price plus the exchange rate on your given currency, plus the broker fees. IF the American dollar continues to rise, you will not see more buying... you will see sales, massive sales!... by huge central banks... tons and tons of the stuff!
It is the same thing as having bought the Greenback when it was at paridy or lower than the Canadian dollar (or any other currency), because time does the work for you... with zero risk. The higher the American dollar goes compared to the CDN, the more you make... with no risk what-so-ever... PLUS, it doesn't "cost" you any money to hold the paper money.
Lets face it, in this day and age gold isn't even much good for teeth; unless you want some gangbanger knocking them out of your head for a little baggie of pot.
Gold is a pauper.