Sunday, December 8, 2013

Gold -- multi-year trendline


since I hardly ever look at linear charts, I almost didn't notice this. gold's primary trendline here approaches $1200/oz which coincides well with my prospective low of $1145. (my target is based on intraday extremes while the chart above uses the five-day moving average of closing prices -- hence the apparent discrepancy.)

I assume many other observers have been highlighting the same trendline recently, but I have no idea who even blogs or whatever about metals anymore.

the line itself is fairly interesting in that it has gold's baseline appreciation rising at about $100 per year.

edit: here's an arguably more important long-term trendline on the log chart:


that line ascends at a rate of about 12.5 per cent a year.