I have run Canada Gold, a precious metal dealer with seven locations across the country, for the past three years. While I am not an expert financial analyst, I have been a keen observer of movements in gold prices and their causes. I studied economics at Queen’s University and wrote an undergraduate thesis on the determinants of gold price.
I am a little late to the party in writing this post; a couple of days ago, on Friday April 12th and Monday April 15th, gold prices experienced their sharpest two day decline since the last gold bubble burst in the early 1980s. Gold prices fell roughly $210 from $1560 to $1350 per ounce, a two-year low.
Previously, I have been on-record as a firm believer in the rising gold prices being a bubble that could burst. In this series of blog posts I look at the causes and some of the effects of the (possible) precious metals bubble.