Golds chart does look bullish, but if you look at the period of 1995-2000, there was a extreme price divergence. Gold plummeted as the bubble in equities took a foothold. http://futures.tradingcharts.com/hist_GD19983.html http://finance.yahoo.com/q/bc?s=^GSPC&t=my&l=off&z=l&q=l&c= The common belief is that Gold is about the make a push higher, and that is circulating in the marketplace for awhile. So the bets are increasing in its upward progression. What is common belief is already priced in. If equities break through resistance above here in the sp500. Gold might collapse.