Why the Gold Smackdown?

Very impressive. Gold prices move from $300 to $1300 on around 10 years. Actually, up to now, I still looking for the answer of this change. Unbelievable!
 
Quote from Hydroblunt:

You call this a smackdown? Gold makes these down moves every few months, it's normal & expected.

Observe most stocks in a bull run, they have sharp corrections periodically.
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+1
 
Quote from ivanbaj:

Fast money. Can't take the heat. They got in after the QE II started to be discussed. They came in more then a bit more and then looked around and no one was coming in anymore. They were left holding the bag. They dropped the bag like a hot potato.

$50 is nothing. Wait for the 300-500 drop
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A 20% correction (300) is not out of the question. I would be surprised if we get it at this level as Fed appears helpless at this juncture and must resort to propaganda.
 
Quote from sledged:

Been following gold last couple weeks, first time in awhile that bears have dented this thing. I am just learning the fundamentals that affect this product, is the recent $50 or so move down in relation to some peoples sentiment that QE2 wont be as big as first anticipated? Thanks.
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No, it's just a natural shakeout after a one-way move from 1160 to 1388 with barely a pullback. Markets rarely go up in a straight line, there is normally some backing and filling as weak hands and hot money pile in and then get stopped out.
 
Quote from ivanbaj:

<img src="http://www.kitco.com/LFgif/au75-79.gif">

Similar?
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If you call a 400% price increase in 3 years similar to an 80% price increase in 3 years, then yes. Otherwise, not even close.

A similar 5-fold appreciation over 3 years would imply gold from $700 in late 2008 to $3500 by the end of 2011.
 
Quote from Ghost of Cutten:

If you call a 400% price increase in 3 years similar to an 80% price increase in 3 years, then yes. Otherwise, not even close.

A similar 5-fold appreciation over 3 years would imply gold from $700 in late 2008 to $3500 by the end of 2011.
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Ivan posts longer timeframes thereby making the curve steeper (more 'parabolic'). This move from 1000 to 1430 began with a breakout from a truly massive H&S. A correction to 1220 or so would'nt indicate a trend reversal.
 
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