via Mining.com - Gold Charts

The last chart in this article is important for the negative real interest rates argument as a determining factor in the gold price.

Given that the gold price decline is such an outlier in the confidence band(although I would like to see a longer term chart, or examination of outlier moves in gold price rallies)and that gold futures haven't seen backwardation, and that the possibility interest rates can go negative on treasury bills as they have in Europe and Japan a reversion to the mean appears a layup as rates deteriorate below inflation.

http://www.mining.com/these-are-the-most-bullish-gold-price-charts-youll-see-today/

- F6