the commodity index looks as though its has longer potential legs at this point than gold, if there is a consolidation further down the line due to the dollar/euro weighting (inflation excluded). The euro/gold chart is behind the wave count of the $gold chart, simply because it broke out much later, although its feasible that the wave structure may put in a euro gold wave top at the same time, which would be medium term bearish for euro gold. In the UK bullion desk are talking about $25.00 silver this year (I think maybe higher). Its feasible that a plateau in the gold market would at the same time still be bullish silver, a) the commodity market started later, b) gold is generally accumulated and used in jewellery or for investment, industrial uses are minimal, and gold is rarely disposed of completely, ie available to the market assuming the right external conditions. Silver is also available for jewellery, and 9/10 carat gold are optional cheaper gold standards .c) silver has more industrial applications, and while photography is moving to digital others are replacing it. d] silver is being permanently disposed of vis plated goods, photographic plates, and surgical dressings. Silver is largely being controlled by the paper speculative market rather than the physical market, which appears to be out of kilter.

Some analysts are suggesting that there might be a major sell off at the gold peak...as per 1980. I think that unlikely... while there may be a major sell off assuming a parabolic rise, looking at the long term >1980 gold chart minus parabolic spikes due to middle eastern issues at the time, extrapolated to now would be delivering healthy prices to support developing miners for another 10 years. Sideways volatility in the gold market though is likely to increase over a period of years following any sell off, albeit underpinned by the Chinese, and may make the shares far more attractive than the metal/etf for small traders or investors.