Gold showing overbought signs pre: Market bubble

I love gold, best hedge you can have; gold doesn't pay a yield, but it's rare, it's looks good with an eternal insurance policy. Meaning, when everything goes to shit and assets collapse, war breaks out and general mayhem. Gold is your holder of value.

But currently in an overbidded and over priced 'bubble' market, in which everything is now bid until a massive correction takes lace, gold is currently overbought.

Gold has that crude oil feel when the commodity markets bidded oil up to 143 a barrel on 1st June 2008, only to tank to 33.22 on the 1st Jan 2009 when the markets went south post Lehman Brothers collapse and the following global recession. The money pumps were turned on and we had rallies with both oil and gold.
(refer to chart)


Still there is far too much optimism in the markets as the hope for further quantitative easing by the Federal Reserve will backstop and support upward trend/s on various asset classes, including gold. Still the laws of unpredictability (laws? anyhoo...) dictate this: 'shit happens' and anything could happen from when the Federal Reserve and that loony Ben Bernanke go all out printing money till the next 'event'. Which is followed in doomsday trades, as possible panic sells in overbought markets.

We saw this in 2008 when oil was bid on a weaker $ and a major sell (correction) took place, we are seeing this again with gold.

Conclusion, gold falls it's a buy.