An article on CNN describes the gold high and possible causal factors. Looks like it'll be best to hold off on buying until after the holidays are over.
For unfathomable reasons, people tend to buy after the price has already gone up. I suppose that's because they think it's an upward trend and want to ride it up. Still, the point is that the market usually corrects upward for undervalued securities and downward for overvalued securities, so it only really makes sense to take action if you were one of the people who discovered the true value ahead of time. With these kind of things, the market will overshoot and stabilize, so latecomers buy too high and get stuck paying too much. It's thanks to them that others can make a profit. Ah, the perils of the stock market.
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