DislikedGold is not a bubble, although it's making an all time high, but it hasn't come close to hitting its old highs in real terms, if you take in consideration inflation
Ignored
The only time that argument for price going up or down is worth anything is if it generates order flow, sufficient aggressive order flow to move prices.
If the market participants who are going to be buying truckloads of gold don't care about what inflation adjusted value is, and thus don't buy based off that, and don't generate order flow, then it is meaningless.
I am sure there are some people buying gold because they believe the inflation adjusted value should be $5,000. The only problem is they are not currently aggressive enough or large enough to stop prices from sliding, and as such are currently wrong.
Private message me for a link to my order flow website.