rago, maybe it's a little off topic simplistic (maybe some of you chart guys can help here) see the kitco 1975'-2010' gold chart...

but i'm looking at the last similar spike in POG and here's my take.....

in the late 70's gold basically jumped to 10X its immediately previous low of $80 to $800 and then somewhat settled around $250-300 (about 3.5X it's previous low)

if the same thing was occuring today we would go from roughly $300 to a high of $3000 and eventially settle at a new base of approx $1050...

the one thing i find interesting is that in the 1970's gold somewhat staggered from $80-$400, but jumped very quickly from $400 to $800 (when everyone jumped on the hysteria) before dropping and settling...i feel we may be entering the beginning of this "hysteria" phase.......just my opinion, and you know what those are like.