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October 2019
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Gold passes $1,200

Gold just passed $1,200 per ounce.

Gold’s rise has support from fundamentals, but every time you see parabolic move, the bubble is forming. One of the key lessons for investors is “bubble has legs”, it will eventually burst, but nobody knows when.

In 2008, we had “mother of all bubbles” —oil price shot up to $147 per gallon. In 2009-10, we may well have another greater bubble, the gold bubble: $2,000, anyone?

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World gold rush continues…


(click to enlarge)


Minsky Moment in a nutshell

PIMCO’s Paul McCulley gives us a nice graph on Minsky moment:

08-12-29c_minsky