Video: Gold Bubble Mania Has Hit Southern California
CrushTheStreet.com staff members have recently visited Palm Springs, California, for an investment conference and thought it would be interesting to see how many people were actively buying gold. We actually were giving this region the benefit of the doubt that there would be a greater amount of people purchasing metals due to the higher number of tourists and individuals with money skewing the numbers. What we found was that the majority of people by far are not buying gold (or silver). This is not a sign of a bubble in our opinion, but rather a time to accumulate more before these people actually do decide to get on board. The smart money gets into things before they see the bubble frenzy occurs when everyone is doing it just to flip it months after it is purchased. Although there is still money to be made in these bubble frenzy times, the question will be lingering as to when the floor will be pulled from under the investment where the price gets slaughtered. CrushTheStreet.com believes that people should be protecting their portfolio with precious metals investments sooner rather than later.
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