There's been plenty of talk about physical gold versus paper gold. I thought it might be of interest to look at the price differential - specifically - the difference between the spot price of gold in Shanghai and the paper gold price (GLD x 10) in NYC. The results are interesting.
The monthly gold chart below shows a very nice 14 year cycle vibration from one of the major events in financial history, the closing of the gold window in 1971. The two subsequent lows mark the lowest price in the 1980s as well as the final 1999 low of that 20 year bear market. The next year in the cycle is 2013.
click to enlarge
The more interesting relationship is present in the Spiral Calendar - discussed within for subscribers.