|Today's chart provides some long-term perspective in regards to the gold market. As today's chart illustrates, gold has been in an extremely strong bull market since 2001. The pace of that upward trend increased beginning in mid-2005. Following the financial crisis of late 2008, gold once again increased the pace of its ascent. Currently, gold is making new rally highs and has more than quintupled in price during its ten-year bull market. As today's chart illustrates, however, gold is approaching long-standing resistance (red line) of its accelerated trend channel.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"Regardless of the dollar price involved, one ounce of gold would purchase a good-quality man's suit at the conclusion of the Revolutionary War, the Civil War, the presidency of Franklin Roosevelt, and today." - Peter A. Burshre
Events of the DayApril 15, 2011 - Personal income taxes due (US)
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