Demand for gold bullion is collapsing. Jewellery sales are down by 75% all over the world. Mine output is rising. Investors are tiring of the gold safe haven story, but its promoters see that they can squeeze one more bullish rally out of gold before sending it crashing to the ground.
The current surge starting today as it does as a rule in September might see $1200 or $1300, but as surely as the rally might see the heights, it will only bring the crash closer, and make it more the more devastating when it finally kicks in.