via Macrobusiness.com.au(april 26, 2013) - 1970s vs. Today

Comparisons with the 1974/76 correction and today are running wild, in anticipation of some confirmation of the onset of a mania.

However, I would say that gold prices fit better with a Wave One extension paradigm, where the fifth wave is the smallest in terms of percentage advance.

I would also compare the present market condition with the onset of a major correction in the indeces much like 1973/74.

Whomever you believe, either the loud, arrogant hyperinflationists with just cause burning a hole in their pockets, or the pessimistic deflationists with a trove of examples to bolster their gloomy appraisals, there is a business case to be made for gold miners over the bullion.

This article is a good one for that.

http://www.macrobusiness.com.au/2013/04/gold-correction-1970s-vs-today-miners-in-trouble/

Average all-in costs in U.S. dollar terms - $1170/oz. The correction in June bottomed out just above that level.

-F6