The price is deliberately being manipulated.
But also, despite that, it could get even worse. I believe that after the global economic collapse, which may occur as soon as this fall, the elites, bankers, and governments will even move to outlaw private gold ownership. The Luciferian system that is now coming together under the approaching rule of Antichrist cannot have people "off the reservation." All of humanity must be enslaved under the new Global Currency, Global Government, and Global Religion.
I remember buying Krugerands at about $400.00 back in the early ‘80’s.
Gold may go to $300..but the premium to buy it will be $300 too!!...U cant print Gold!!
If gold hits $350, try finding sellers
It seems this type of prognostication is being used to try to flush out sellers now, fast
The miners are in desperate shape, not only in gold but also base metals. Anglo American just announced a layoff of 53,000. That’s both in gold and base metals.
If it drops below 400, it’s probably a buy. Perhaps at 500. It may drop a little more, but should bounce off the bottom pretty quickly. That being said, it will take quite a bit of inflation to get it back to where it is now - or some more market manipulation.
There is definitely something wrong with the ozero economy. Gold tanking, silver tanking, oil tanking, jobs already tanked, etc... jimmy carter presidency squared!
Don’t forget that the market price of gold is for paper gold. One of the contrarian indicators on this analyst’s theory will be easily seen in how inventories of physical gold bullion products (like 1 oz. coins) hold up as the price drops. I am betting that physical gold will dry up as the price drops and that below a certain price manipulation will be very difficult without producing other visible effects.
see:
http://www.investopedia.com/articles/07/contango_backwardation.asp