myg share price and gold price - 5 yrs chart, page-24

Well I don't think we need to worry too much as I don't think the gold price is going to be anywhere near these levels in a couple of months. I have pasted below a response I put on the Gold thread re Citibank's call for Gold to $3500 & that this is just a correction.
I just hope JG doesn't pull the trigger on the new hedging too quickly.

I thought it was interesting they mentioned in the 70s gold went up 7 fold after a similar collapse as we are seeing now & they expect $1200ish to be major support. 7 x $1200 gets you over the $8k/toz some have been calling for. Not sure I believe it will go that high, but thought it interesting. Once $1550/40 was breached $1250 was the next major support area for me, so we may head there before settling & then moving much higher. I also thought it interesting the DOW was sold quite hard overnight. Is gold the precursor to the collapse of this printing press fuelled equity rally. Typically everything gets sold in a panic if we see another dump in the equities. Well more correctly positions get closed out as the margin managers start calling, however in this case the gold market is short very short, so you know what happens if these short positions have to get closed out in a hurry! Boo Yeah!