Gold has dropped for a fifth straight day, the longest losing streak since August 2009, as signs that the U.S. economy is recovering strengthened the dollar and curbed demand for a haven. Does this mean the end of gold's bull run?
The following is extracted from Profit Confidential:
Gold Bullion per Ounce
Dec. 31, 2002 $348
Dec. 31, 2003 $416
Dec. 31, 2004 $438
Dec. 31, 2005 $519
Dec. 31, 2006 $638
Dec. 31, 2007 $838
Dec. 31, 2008 $889
Dec. 31, 2009 $1,097
Dec. 31, 2010 $1,421
Well, as we can see, gold has been on a nice uptrend for the past 10 years. We know that it takes a long time for a trend to change. So, the time to buy more gold may be near.
No comments:
Post a Comment