I’d bet a lot of money that gold won’t go back to $300. However, if it does, I’ll back up my truck and fill it up.

As for what “went away”, the answer is: nothing. What has actually happened is that the short-term traders have again been taken to the cleaners by the “big boys”. This is of concern only to those who have weak hands and/or margin accounts. I have neither, so I don’t pay too much attention other than to buy on these pullbacks if I have some spare cash lying around. In my opinion, gold is going much higher, and I don’t really care about the timing.