I have a similar read on it chaz. Notable similarities between this cycle and the 2008 cycle. The main difference I see is that the fall away in 2008 was quite speedy due to the GFC. This time we have had the slow demise because there has not been the interbank lending and liquidity issues which caused the POG to correct so rapidly.
Whilst there are definite similarities, it is difficult as alway to predict the exact bottom, but gold's trading 'behaviour' seems to have changed in the last 60 days with several technical indicators hinting at some positive price action going forward. As always, resistance will need to be broken and retested, but history, I have experienced, does tend to repeat.
QE seems to be on the cards for europe which is good for liquidity. Can not see the Fed raising rates this year, but there are always the 'black swans'. Good luck all.
My beaten down small goldies have all given 100% in recent weeks. OGX coming to production Q1 2016, SLR waaaay oversold - takeover target, WWI priced on risk not ounces, soooo undervalued it gives me chuckles as I keep averaging up though there is still work to be done to reduce said risk.
