Since 2011 Gold is in a steady downtrend. The period from 2004-2011 appears to be a huge bubble and it's correcting down back to the mean value.
It seems Gold behaves like the market cycle shown here:
www.ritholtz.com/blo...of-Market-Cycles.jpg
It seems Gold behaves like the market cycle shown here:
www.ritholtz.com/blo...of-Market-Cycles.jpg