Question: Wait Russell, why do you think there will be a third speculative phase for gold? Many experts, even gold experts, are saying that “gold is overpriced now.”

Answer: First, I’ve never seen a big bull market that has not ended with an emotional, wild third phase. Just as gold got ridiculously undervalued (below 300) in 1999, it will become overvalued in the years ahead. Human nature tends to go to extremes. And there’s “no fever like gold fever.”

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