mongoose

Thanks, I'll dig deeper around the oil factor. Any comments on the reason for the fairly long correction though? Or was it just that the oil events subsided?

I think the Hunt brothers where there at the end in the 1980s. They were around for 1975-76, but I don't think anything they did caused that drop. They were whacked in 1980.

A site was set up to help the ebayers that were scammed: http://www.wheresmygold.co.uk http://feedback.ebay.co.uk/ws/eBayISAPI.dl...FS&frm=1883 I nearly got sucked in for 10 sovereigns, but luckily thought it was too good to be true and could not believe the volume he was selling was tangible or believable so did not bid in the end - I had already had a similar experience with another seller. It looks like he was selling gold short and originally buying sovereigns on the dips (I believe he had long delivery times) The gold price just ran away for that kind of business model. The same thing happened to a german ebayer called ML-Agentur (google for their story) who I did actually buy from once - got my gold in the end, but the 4 month delivery time and excuses raised my awareness and blood pressure! Sorry if anyone here lost out

I want to get peoples views on the similarities so far with the 1970s, which the current situation seems to be playing out comparibly against (inflationary environment, commodities upcycle, etc) - Though obviously there are differences... I have a 60%-30%-10% split of holding of PMs between physical, equities and leveraged respectively, and I only trade the leveraged element. Not to put a dampener on things, but I'm cautious on gold at the moment when comparing it against the previous cycle. I still get the feeling that we are due a largish correction (30+%). I currently see 300 dma (currently $730ish) as the lowest gold could fall to - though in 6 months time 300 dma may be $800ish which is the more likely timescale for things to pan out. What I'm wondering is if at some point we will have any comparable downturn for the gold price like that seen 1975-76 where it lost around 40%. Should it have happened already or is it different this time? Or are we getting set up for that final downleg before the final phase? Or are we now comparable to the final 1977-81 phase now? What I'm particularly interested in is info around why the 1975-76 downleg happened (if there was a reason?) Any views, comments and analysis much appreciated p.s. Also an ex-follower of the gold thread from HPC. Prefer the maturity shown here though I got into gold in 2005 after following a thread by DrBubb so many thanks for raising my awareness!!

London PM fix showing as $1003.50 http://www.lbma.org.uk/statistics_current.htm So that will show on graphs basd on the fix prices.

Agree, "gold price" and "silver price" are the best trend indicators I've found so far. Google Trends for "gold price" and "silver price" Interesting to see that we are still under May 2006 volume, so hopefully more upside in the next couple of months before a major correction? Also will be interesting to see where the new maximum volume limit occurs.