Gold is down sharply this morning (over $30 an ounce as I write this — ouch!). Maybe the “technical” buy signal gold triggered last week was incorrect, or maybe this is a pullback for all the late stragglers to get in before gold goes higher. We’ll have to see how things develop.
Meanwhile, look at this chart I made on Stockcharts.com. It shows gold’s weekly percentage performance over the past five years compared to the S&P 500, the Dow, the CRB Index and the US dollar. And gold has been kicking butt. I don’t know if this outperformance will continue, but it certainly is a head-turner.
More on this topic
(What's this?)
Bloomberg Gold Buy Signal
(Gold Versus Paper, 3/9/10)
Inching Closer to the Gold Explosion
(Gold Versus Paper, 3/13/10)
Like oil for gold? Oil pushing new highs while gold languishes
(CHARTLINES (tm), 3/9/10)
Why the Gold Bubble Will Peak at $2,000 in 2010
(Money Morning, 1/23/10)
Related Posts
- New Charts on Gold — Short-term Pullback? (02/03/09)
- Armageddon in Oil and Gold? 2008 Going Out Wi… (12/28/08)
- Gold Surge — How High Can It Go? (03/19/09)
- 2 Charts and News on Gold and Silver (10/22/09)
- 2 More Charts for Santa — Small-Caps ETF and Red-Hot Gold Miner (12/21/09)
{ 0 comments… add one now }