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<p>[QUOTE=&quot;Cloudsweeper99, post: 755538, member: 3011&quot;]I disagree.&nbsp; Oil was a completely different situation.&nbsp; There are enormous amounts of US dollar reserves held by foreign central banks available for gold purchases.&nbsp; This puts a floor under the gold price.&nbsp; This looks like what passes for normal in the gold bull market -- short, sharp drops to shake out the speculators and weak hands.&nbsp; It seems highly improbable that there is enough speculative buying in gold and silver to cause the price to permanently move to lower levels the way it did in 1980.&nbsp; Instead, there appear to be fairly large short positions in gold and silver that will have to be covered.&nbsp; Time will tell.</p><p><br /></p><p>Edit: To put this in perspective, the gold price only moved back to where it was in mid-November.&nbsp; This is hardly a big deal.[/QUOTE]</p><p><br /></p>

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