gold's downtrend

Chart of the Day

With gold currently trading 34% below its September 6, 2011 peak, today's chart provides some long-term perspective on this millennium's gold market.

As today's chart illustrates, the pace of bull market in gold that began back in 2001 increased over time. In late 2012, however, the parabolic trend in gold prices came to an end and a new downtrend began in earnest. While the price of gold has recently ticked upward, in the end, this latest move has resulted in gold coming right back to resistance of its one-year downtrend.

See chart here; http://www.chartoftheday.com/20140122.htm?H