Also note that the chart embodies a version of the Gold/Silver ratio as silver is scaled in behind the gold chart. In each case when a serious high in the market was reached the silver meets or exceeds the height of the gold trace.

Silver is still way below the gold chart at this point.

http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=8&mn=0&dy=0&id=p32003764007&a=138315815

P.