Here's some support for my view from James Turk, one of best market analysts I have ever come across in 30 years of involvement in finance:
We finally broke through resistance of $1,440 and in my opinion we’re starting to see the beginning stages of an upside explosion in gold. It’s sort of amazing to think Eric that here we have gold at record highs and it still hasn’t yet caught the public’s attention.Here's the LINK to the full text of Turk's comments.
In fact, not only is the general public a better seller of gold and silver, rather than chasing the prices higher as buyers in true bubble form, but big institutions have not yet moved into the sector. GLD exposure does not count - or any ETF for that matter except the Sprott trusts - because the ETF's are nothing more than paper investements. You need to have the ability to take delivery of the physical metal at your command in order for it to be considered a true purchase, or transfer of ownership/title transaction. Anything else is fiat paper. Here is a perfect, factual illustration of my point - I sourced this chart from Casey Research (edit in red is mine):