San Diego Housing Bubble News and Analysis

When folks starting talking about precious metals on a daily basis, I'm convinced now it's cooler talk ==> the bubble is here.

Last year when Gold was $1000, platinum was about $2000 (or 2 oz gold per oz). Today gold rose over $1200, but platinum is around $1500 (1.25 oz gold per oz).

I bought a couple of gold coins at a price around $850 a piece early this year. Today I sold them at $1217 a piece. Pretty good interest for one year as a special "CD".

Sorry folks, after I corrected some typo, your votes were gone. Please vote again!

I kind of think I could find small amounts of Gold if I put my mind to it,

(Right now I am looking through old text about turning Lead into Gold, trying to get this set-up in the garage, but wife wants the car back in so I may have to give up).

Platinum I have no clue how to find, but I think it actually does useful industrial stuff.

Since the relative price of platinum versus gold is so low why not take the strategy of being long Platinum and short Gold ?

I believe that gold is currently in a bubble, fundamentally. The problem is that it could go considerably higher from here on speculation before returning to fundamental value or alternatively the fundamentals could catch up to the speculation via decline of dollar and/or increased inflation (this is what the speculators are banking on ... or hedging against)

While I don't think gold is a "bubble" per say, given the long term prospects of the dollar, I don't think it's a great investment right now either. To put it in terms of the housing bubble, Gold looks to me like it isn't quite at the peak yet, but that peak will come soon and rop off fast when it hits.

Platinum does have more commercial application than gold and looks less overvalued. Given that stocks look a little overvalued right now I wouldn't consider it too crazy for someone to throw a little money into platinum, especially as diversification.

Gold just took a 4% hit today...

ANd platinum dropped ~ 2.5%.

Short Gold/ Long platinum would have been up today.

http://finance.yahoo.com/news/European-m...

"An ounce of gold was down a further 2.2 percent at $1,143.60, way lower than last week's record high above $1,225."

If you bought a few days ago at top and watched your value fall 6+% in just a few days, my condolences.....

Crude is getting hammered too... $74ish.

Time to sell

Like I said...Bbbbbbbbubbbble...

We have a whole lot of deflation before dollar problems.

Too much speculation and fear about collapsing economies. And now that it seems Fed, retail, co's are going to prop up the markets (again), some of this fear I'm guessing in the short term will subside...

Even shitty tech companies like AMD are getting some of this action of euphoria. $4/shares were the best speculations to make a few months ago.

Must have had enough suckers on board so it was time to pull the rug I guess.

Too bad I was looking forward to selling Dry dredges .

I'm sure you'll get your chance when the retails numbers come in after christmas.

http://www.kitco.com/charts/livegold.html

$1115 and falling..

hehe... Let me guess flu? You were irritated you did not buy in on it when you were pondering it a few months ago and now you are relieved to see happen what you thought would happen.

I sold a substantial portion last week that I had bought in early 07, leaving me with essentially a nice chunk of free gold.

The dollar with have problems, but it's not 2010s problem. IMHO

I think Gold could make it down to the 700 range again.

Honestly, irritated yes. But more so, because I wish all the cooler talk about buying gold would stop, especially from the same people that a few years ago talked about buying investment property and a few years before that about the stock bubble.

I'm not complaining though. I've picked up my fair shares of "bargains". Can't complain about picking up Citibank for a buck, AMD for a tres bucks, or American Express in the twenties. But Rich is right, stocks are overpriced again.

Ouch.....
http://www.kitco.com/charts/livegold.html

$1090 and falling.....

If purchased around thanksgiving, thats close to a 10% loss....

all of these damned things go up and down. i prefer straight up.