Gold Almost Back In Long Term Trendline

Gold is about to re-enter its long term trendline, as presented on the following chart, courtesy of the most comprehensive precious metals chart center Sharelynx.

The chart shows the gold price in a range based on a 95% prediction band. The stand-out feature on the chart is how gold remained within the range for most of the time in the past 10 years. The two exceptions were gold’s peak in the summer of 2011 and the collapse in 2013.

gold long term trendline 2005 February 2014 price

This is definitely a sign of strength going forward.

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  • goldstacker

    yeah, go,go gold. The Chinese people love gold equal to the Middle East population and India. But China has a lot of people and their money is good nowadys !!!! The average China person can go to a bank or dealer nearby and pay for the gold in the local Yuan currency. The price for the gold is calculated in Yuan according to the actual gold price in US Dollars . That means its easy for them to buy gold and unbelieveable cheap in their view, because for them gold is the only real money and fully recognized store of value. They are giving paper and do get real, real shining gold in the forms of coins, small bars or jewellry.