How crazy is this going to get? That's the question I am asking as one of the biggest bulls on Precious Metals over the last decade or so...but even for me this is looking pretty extreme. We knew that $4,000 USD was going to be the next big target for Gold but experienced stackers like my friend 
I did have success calling an interim top earlier this year at $3,500 USD and got the follow up consolidation right too, but I thought Gold might have found another short term resistance level at $3,700 USD only a few weeks ago. That level held for only a very short time before the price action blasted through it. Now here we are on a string of green candles reaching for that next seemingly outrageous target.
Why? You might ask. Well, market is what market does. Maybe we are in that stage of a melt up where at first it happens slowly and then suddenly. Maybe people are panicking about the US Government shutdown or maybe it's more about the new Japanese Prime Minister and the apparent "Bondquake" over there. The political crisis over in France is probably not helping, but these all seem like sideshow attractions and in times gone by the Precious Metals markets would tend to shrug them off. Maybe the real story is the one 
Are the floodgates opening? Is it finally time for Gold to be repriced properly? It might just be. For me though, I am taking a little bit of profit here because I can see the $4,000 USD level being defended and if the market is Overbought then maybe I can get some of my paper gold back cheaper later. Sure it's a risk the market will run away from me but it's never a bad idea to be locking in some profits when markets start getting carried away.
DISCLAIMER - This is not financial advice