Is gold now in take-off position like the Nasdaq in 1998?

If you look at the 2000s’ gold bull market below and compare it to the 1990s’ Nasdaq chart that follows the similarity is remarkable. The conclusion then would be that gold is about to enter an 18 month blow-off period with a spectacular price spike.

These charts are from Adam Brochert whose annotation is hard to disagree with, and commodity bulls like Dr. Marc Faber and Jim Rogers would doubtless have even more to say. The implications for bonds, stocks, the US dollar and inflation are also enormous. But perhaps this simple chart logic explains why so many big hedge funds are now buying bullion.