On April 22nd, we wrote an article "Silver 2006 vs Silver Today, Does it look Familiar?" The patterns were nearly identical... and so was the huge drop that followed.
In this article, we will compare the recent price behavior in gold to the price behavior in 2006, and see if we can learn something from the past.
First, let's have a look at the gold price in 2006.
Chart courtesy stockcharts.com
Now, let's have a look at the Gold price in 2011:
Chart courtesy stockcharts.com
Now let's place the two charts next to each other, to see the similarities:
Larger Image
Chart courtesy stockcharts.com
If this isn't clear enough, have a look at the chart below, which lays one chart on top of the other...
Chart courtesy stockcharts.com
For those who believe gold will go to $5,000, have a look at the following interesting post, written on June 24th: Gold Headed to $5,000 per Ounce?
For those who think the recent dip towards $1,700 was the bottom of a sharp correction and who missed out on this chance to buy the dip, consider reading the following post: How to Get a Second Chance to Buy Gold at $1,700
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