, Columnist
Gold Is Expensive, and May Be Just Warming Up
History shows that once the price rises above fair value, it has a tendency to keep going.
When you see retail investors clutching piles of these, then it’s time to bail out.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
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As I write, gold has surged to yet another record, topping $2,050 per ounce. Is it overpriced?