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It is impossible to value, b/c it trades at prices that have nothing to do with its real value as a commodity.
But if someone is holding gold that they bought at under $1000, and they sold it now, even if the bubble goes higher, they can take comfort that they are one of the few in the last 35 years who have traded gold and actually made a significant profit (see the chart, big profit opportunities in gold don't happen often, and those opportunities don't last long).
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