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It is down due to manipulation. People are running to it but the price is not moving. I don't know about the rest of the world but in Asia right now (China, India, SE Asia) there are lines out the door at many gold shops with people stocking up while it's down.
I stood outside of one today and told a few older Chinese people they were wasting their money and Bitcoins were where it was at. They didn't find it amusing. OK, I didn't really do that but they would probably kick me in the balls and eat my cat if I did.
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