By most generally accepted technical measures, gold had become overbought somewhere between $1,800 and $1,900. The pace of its price rises relative to its longer-term trend (back to 2009, and then even further back to 2005ish) became much sharper. And despite the precious utopia in some investors' imaginations, not all who dabble in the precious metals market buy up physical metal or hold paper positions longer than a handful of months.
So, does gold's overbought status equate to a bubble? I would say ____.