Is the Gold Price Due a Crash? - 17 August 2011

The gold price has soared recently. Is the bull market over...?

CONTRARIAN gold owners are getting concerned. After watching the Gold Price soar from $1,500 to $1,800 per ounce, we're hearing how gold is "stretched" to the upside...and has become an increasingly popular asset, writes Brian Hunt for Steve Sjuggerud's Daily Wealth. 

Those concerns are valid...and the Gold Price is likely to go through a sharp correction. After all, markets are like runners. They can't run flat out in one direction without taking a breather. But don't get too concerned about a $100-per-ounce move here. Remember the "long view"...

The Gold Price is rising because Western governments have made incredible, unrealistic promises to their citizens... and have taken on incredible debts in hopes of paying for them. The only way to pay these debts is with debased, devalued paper money. 

"Real money," gold, climbs as a result:

The Gold Price is a near-lock to register its 11th consecutive year of gains.

While keeping these fundamentals in mind, we look at the big, long-term uptrend and remind everyone: "Sure, gold could correct soon. It could correct hundreds of Dollars per ounce and still remain in the cozy confines of its uptrend. If it does correct down to, say, $1,400, we'll buy more."

Buying Gold?...