The most commonly invested Gold ETF the SPDR gold trust price movement is used or analysis. It follows the gold price in dollars. It is comparable to Gold price by a factor of 1/10. That is if Gold is at $1200, SPDR gold ETF unit is at $120.
SPDR Gold ETF 10 year Chart : https://in.finance.yahoo.com/echarts?s=GLD#symbol=GLD;range=
Gold Historic chart : http://goldprice.org/gold-price-history.html
Price level at 20 Day exponential moving average are taken for the sake of adjusting the short fluctuations.
In the past 8 years, since 2008, we can see 2 prominent bull runs in Gold price.
One bull run form a low of October 2006 (Price $58.5) to May 2008(Price $95) - a rise of $36.5. Then a fall of $21 to Nov 2008(Price$78).
Another bull run from a low of Nov 2008(Price $74) to September 2011(Price $176) - a rise of $102 then a fall to recent levels the lowest being of December 2013 (Price $118) - a fall of 58 points.
Thus the first bull run had a fall of 42.5%, The current fall from a high of September 2011 to December 2013 is 43%. This shows a high probability of reversal from this level. Chart given below. Click on image to enlarge.
SPDR Gold ETF 10 year Chart : https://in.finance.yahoo.com/echarts?s=GLD#symbol=GLD;range=
Gold Historic chart : http://goldprice.org/gold-price-history.html
Price level at 20 Day exponential moving average are taken for the sake of adjusting the short fluctuations.
One bull run form a low of October 2006 (Price $58.5) to May 2008(Price $95) - a rise of $36.5. Then a fall of $21 to Nov 2008(Price$78).
Another bull run from a low of Nov 2008(Price $74) to September 2011(Price $176) - a rise of $102 then a fall to recent levels the lowest being of December 2013 (Price $118) - a fall of 58 points.
Thus the first bull run had a fall of 42.5%, The current fall from a high of September 2011 to December 2013 is 43%. This shows a high probability of reversal from this level. Chart given below. Click on image to enlarge.
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