Is the Gold Bull Market Dead?

Is the gold bull market dead? Are those who own gold in for huge losses?  Forced liquidation?

Gold bull is dead, says Gartman

Published on Investment Postcards from Cape Town | shared via feedly mobile

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.

Calling the death of gold’s bull run, and the beginning of a gold bear market, with Dennis Gartman, The Gartman Letter. He said in latest newsletter: “We have the beginnings of a real bear market, and the death of a bull … So much damage has been done to the psychology of the market in the past week and so many late longs caught off guard that forced liquidation shall be the outcome.”

Source: CNBC, December 14, 2011.

Forced liquidation?  That would catch some by surprise.  Big surprise!  There are so many gold commercials on the radio and even TV news channels, that loading up on gold seems to be the obvious answer to the current domestic and global economic situation.

All bubbles end badly.  After gold came close to $2000 the metal has crashed. Just this past week, gold was off 6%.  

I don't own gold and have no plans to buy gold.  Gold doesn't produce anything or grow in value.  I think it's just a hedge against catastrophe.  My thought is that if a catastrophe happens, one would be better off with guns, ammunition, and drinking water than with gold.