Ali Wahab

No Gold Bubble

Great article. The gold story has a lot of credibility and is poised to go up further, however, I feel that there has to be some sort of correction. I bought gold around $450 per ounce a few years ago mainly because of the global turmoil. Quite happy at where it is. Should have bought more. The way global markets are moving (downwards that is), there is bound to be pressure. Also do note that Indians are trying to cash their gold, to capitalize on the high prices. Indians are smart, do remember that (I am not an indian). I also read an interesting piece at the beginning of the year from UBS. One of the ten surprises they have mentioned for 2009, could be Gold falling to $300 an ounce. Though it may not fall this much, the probability of a correction is quite likely.