|Today's chart provides a long-term view of the gold market. As today's chart illustrates, gold has been in a strong bull market since 2001. Today's chart illustrates that the pace of that upward trend increased beginning in mid-2005. Following the financial crisis of late 2008, gold surged once again. More recently, gold has pulled back from resistance (red line) of its accelerated trend channel. However, gold has pulled back to and is currently testing what is two-year, intermediate support (see green dashed line) for the eighth time.Notes:
- Does the gold rally continue or is the party over? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
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Quote of the Day"The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice." - Henry Hazlitt
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