Today’s chart provides some long-term perspective in regards to the gold market. As today’s chart illustrates, gold has been in a strong bull market since 2001. The pace of that upward trend increased beginning in mid-2005. Following the financial crisis of late 2008, gold surged once again. Currently, gold is making new rally highs and has more than quintupled during its nearly ten-year bull market. As today’s chart illustrates, however, gold is approaching resistance (red line) of its accelerated trend channel.
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