Very good post on bubbles! I hear people tell me gold is in a bubble. I then ask them, to recall the last 2 bubbles that were familiar to them. They tell me the housing bubble, and I say" how many people participated in the housing bubble?" and he replies,,millions.. He then recalls how many people particpated in the internet/nasdaq bubble.. I say to him then, how many people do you know who owns even one ounce of gold? He says not a single person with the exception of some gold jewlery. I conclude by telling him, that I never saw a bubble where no one participated in it!

Your description is an excellent example of when to sell your gold! I think the mistake many are making and will continue to make, is to exit the bull market in gold way to early.