That chart looks like a correction, but I wouldn't call that a collapse...
It is a fractal, just like BTC. The recent top is same shape but larger than the 2008 top.
I don't know Fractals or TA,
But If I'm doing right assumptions on current Gold price regards to sad macro-economical situation and TPTB dampening on it,
How probable it is that this could be a reversing market trend indicator?
I do believe that it should be reversing soon, when USD status as Global Reserve Currency collapses.