With a price surge of about 20% during the last 12 months, anyone who bought gold a year ago should be sitting pretty. But such a vertiginous rise may be causing uneasiness among some traders and investors, prompting them to ask the question favoured by sceptics and the ultra-cautious: are we in bubble territory? If the answer is yes, then the likeliest instrument to prick that bubble would be America’s central bank, the Federal Reserve. In a variation of the post-crisis theme that good news can be bad news, positive commentary from the Fed on the state of the US economy recently spooked holders of the yellow metal. ... (full story)