an anaology of the last inverse head and shoulders (from 2008) pointed a short term top for gold around here... if it were to follow the exact same retrace 61.8% of the leg then it points to 2150 USD... but 38.2 and 50% are more common retrace levels in early and mid bullmarkets so i wouldnt bet the house on it retracing that far.
The XGD /.XAUAUD ratio seems to have a strong correlation with the AUD/USD .. foriegn money folowing the currency trend seems to be what drives our miners valuation relative to gold price the XGD has broken out of a bull flag.. maybe it will backtest that next (the smaller one
