Essentially, it's the Rabbit Angstroms (and now Glenn Beck watchers) of the world that have to fear the gold Krugerrands in their safe deposit boxes could slowly shed all the value they have picked up over the last year.

Dennis Gartman, a hedge fund manager and newsletter editor who is betting on gold, wrote last week that "the public is selling gold not buying it, as evidenced by the fact that there are as many advertisements on television touting the opportunities one might have in selling one's gold ... as there are touting gold as an investment.

"Until ... the latter advertisements dwarf those of the former, the Bubble has not yet been blown."

In other words, bubbles and semi-bubbles rarely last-the market fundamentals are just too powerful to ignore.