Yes..the gold also can go to 700, maybe 500 maybe we can exchange 200Kg of gold for a dozen of bananas imported from my origin country Brazil.
But maybe can also happens the reverse.,.. China India and central banks as soon comes to 1300 they buy a bargain and the price goes back to 1400 and people relize that the gold have an intrinsic value to plenty of retail buyers,industrial users and reserve to central banks..
Than maybe you can see ,not gold miners going into liquidation, but shorters and especulators asking money to the banks to cover their weak and completly lost and naked position.
Cato
SLR Price at posting:
81.5¢ Sentiment: Buy Disclosure: Held