No Gold Rush for Buying Gold...Yet

This is fantastic news for the gold bulls among us. The mania phase which will really be more a fear phase is still to come.

Instead of the 10 year 1971-1980 gold rush into buying gold, we are in the middle of possible a 12-15 year market. Commentators such as James Turk, Bill Murphy of GATA, and many others that I respect and support opined that the masses would rush into gold when it broke $850, then $900, then finally$1000. Nothing of the sort really happened.

Perhaps another 10% of the current tiny crop of gold buyers came aboard, but nothing more than a scant sub 1% of all investors came into buy gold or silver for that matter.  The public generally will climb into the Wall Street boxcars gladly and read People magazine all the way to the slaughter house.

Now the dolts are wondering if it is too late to buy gold. They have no clue how a denominator of a disappearing currency can send the numerator of gold to nearly infinite dollars per ounce.

Next we will look at the silver buying trends.