$1300 level by April, page-188

Yep margin calls numb, then the explosion to the upside is where the rich make the dough. Gold to explode...
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The reason gold boomed leading up to 2011 was only marginally because of economic factors, the main reason was because it was in a mania, gold was going up because gold was going up. Suckers got cleaned out, big time, and if you search the internet you'll find plaintive letters from those that lost the lot.

After all, Peter Schiff, Jim Rickards, Jim Willie, the Aden sisters, Mike Maloney, divinity deadbeat Bo Polny and dozens of other charlatans told them very authoritatively that they would get rich, just buy gold and silver and Bob's your uncle. Everyone else in the World would be broke but goldbugs.

"gold to explode".....LOL, I'd love a dollar every time I've read that here.

The 2011 gold crash prompted Barry Ritholtz to pen the following rules.....

http://ritholtz.com/2013/04/the-10-rules-of-goldbuggery/