you've got dozens of commercials playing on fox news 24/7 saying to buy silver and gold. and you got glenn beck who rails about how the end of the world is coming and everyone should buy gold cause our currency will dissapear or some wild conspiracy theory.. this is what happens. it was a bubble and it burst. a lot of people lost their ass. the poor schmuck who put his life savings in at $50 lost a third of his wealth in 4 days. and the margin requirements will tighten up forcing him to sell
1 week ago people were panic buying, now people are panic selling. markets move fast.