[Speculative demand from investors has pushed the gold market into a] bubble that is poised to burst. We have seen the economic damage [of past bubbles and] feel compelled to ring the warning bells. There could be substantial risk to gold once the fear that the world is coming to an end subsides. We are worried about the downward risk.
~Dean Junkans, analyst, Wells Fargo, research report, August 15, 2011