Yes, there are going to be bounces. Yes, sentiment is in the doghouse. Yes, we are really, really oversold. But the notion that gold is somehow a steal right now is, I think, misplaced, and people keep trying to catch this falling knife, sometimes with both hands. I think we could see gold threatening $1000 before the year is over (although $1050 is my best guess for a bottom). My point is that this is a very dangerous creature.
