I've been thinking about this and decided to do a cmparison of the XJO & gold over the past 10 years using a daily line chart. Unfortuantely I haven't been able to set the price price axis for the XJO on the left of the chart so it only shows the POG.
What became blatantly obvious to me when I did this comparison was just how much gold appears to have got ahead of itself. Sure there's plenty of talk that the POG is going to $2K, $5K even $20K and while I firmly believe that Au plays a role in one's portfolio for a variety of reasons I'm somewhat surprised by what the chart reveals.
On this forum there's been no shortage of talk regarding price manipulation. Manipulation, looks to me that the manipulation of the price has been in the opposite direction as espoused by many on this forum?
Obviously time will tell as it always does, however I for one am certainly not convinced and would not be at all surprised to see the POG retreating to around $700-$750 long before it goes to $20K
Food for thought ;)
WC8
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