The two charts look pretty alike to me, they will never be exactly alike, but you can't deny the similarity.
This is what the author says:
"Moreover, based on its long-term average, gold is way beyond fair value. Instead of $1900 an ounce, reasonable gold prices should be closer to $500-$700. Supported by Fibonacci time relationships and seasonality patterns, the likelihood that a peak in gold has already formed or rapidly approaching is almost certain. The possibility of a final blow-off phase cannot be ruled out, but the risks in gold are enormous. Now is not the time to buy gold."
I see some markets are starting to panic, there's reports of it in India, and given the fall in gold indexes and shattering of investor psychology, a major decline is certain.
Wonder how Ron Paul's feeling? Small gold stocks were his particular bag, the GDXJ is down 65% in 2 years. He's a doctor so I guess he can prescribe his own anti-depressants.
