While everyone is focusing on the dramatic drop in the gold price last week (USD 127 or 7.5%), gold actually broke a new high and raised the downtrend line on the 10 year chart. ie. although it went down it actually went up.
This is what a trend reversal and an upward path looks like. A series of downtrend lines being pushed higher and higher.
Expect more price spikes as crisis worsens. But also expect more knockdowns as people who held gold for the last 7-9 years at a loss seek to break even.