The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( Bullion Bulls Canada) -- The World Gold Council recently released its own report for the gold market for 2011. It noted that while global demand for gold had hit a new all-time high in (nominal) dollar terms, it was merely reaching its highest level in 15 years in terms of tonnages. Hardly the signs of an "over-heated" market, as is regularly claimed by the flock of mainstream Chicken Littles clucking about a " bubble" in the gold market. Indeed, investment demand rose by a mere 5% year-over-year. Arguably, even that number overstates the performance of the gold market in 2011, since (in the real world) much of what is mistakenly classified as "jewelry demand" should be classified as investment demand.
- The product they produce is inherently defective;
- the product they produce is significantly overvalued;
- the product they swap their own goods to obtain is inherently superior;
- the product they swap their own goods to obtain is significantly undervalued (relative to their own product).