|Today's chart provides some long-term perspective on this millennium's gold market. As today's chart illustrates, the pace of the bull market in gold that began back in 2001 increased over time. In late 2012, however, the parabolic trend in gold prices came to an end and a new downtrend began in earnest. While gold has traded in a flat / choppy manner over the past year, gold has managed to once again work its way back up to resistance (see red line) of its three-year downtrend channel.Notes:
Does the gold rally resume? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.
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Quote of the Day"The fellow that can only see a week ahead is always the popular fellow, for he is looking with the crowd. But the one that can see years ahead, he has a telescope but he can't make anybody believe that he has it." - Will Rogers
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