I am copying a comment made under Neil’s Post below for all to see :
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I just wanted to point out that from a purely Chart perspective 1980 and 2011 tops and subsequent busts were virtually very similar….. And speculation aside ..there were Many Gold Bugs and Gold Investors who held on all thru the 80s and 90s (for 20 long years) . And were they ever on the wrong horse or what ?

Like it or NOT that WAS a Parabolic Blowoff Top in Fall of 2011.….complete with a lower high “Echo” Top ! It is easy to see now .Just like the 1980 Top is easy to see .Did anyone here sell anything Gold back then ?

These past 4 1/2 years (first half of the teenies) are eerily similar to what Gold Hopers were going thru in the first half of the 80s . See the Grinch Charts .

Did any of them in 1985 / 86 think it would be another 15 YEARS before the next Bull began ..at 1/3 of the price achieved at the peak ? That implies about $650 in Todays terms .

And to add insult to injury That was the time when Stocks skyrocketed .
We cannot discount this possibility again …No mater what our ideology !

I still have PHYS but now I consider it Insurance and NOT my go to investment .
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Crude Oil Went Parabolic in 2008 and now going on 8 years later it still hasn’t found a bottom !

Gold is Only 4 1/2 years past its peak . I am not saying it WILL be the same as OIL but it sure COULD Be !

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The NAZ went parabolic in 2000 and didn’t really bottom until 9 years later and never really has even made a higher high 15 years later !

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These parabolic Blowoffs take a LONG time to resolve. That’s my point

Shoot the messenger
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PS Look UP the $NIKK (Nikkei) Parabola in 1990….that one hasn’t come close to recovering its top

25 years later !

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SO NOW HOW ABOUT Silver ? What about Bob ?

WE CAN DEBATE A LOT OF THINGS BUT NOT “IF” SILVER WENT PARABOLIC IN EARLY 2011

bob