That is actually not only true for goldbugs, but for all financial bubbles. If you had asked someone about AAPL in summer of 2012, they would have told you that any specific news item was bullish. If you had asked someone about crude oil in 2008, they would have told you that any specific news would drive the price higher. It is the same pattern over and over gain. Once the goldbugs throw in the towel and admit that they were wrong, it will be a good time to actually buy gold.