There is clear evidence of MASSIVE ongoing bullish accumulation...

There is clear evidence of MASSIVE ongoing bullish accumulation in gold.

The following is a weekly volume chart of gold.

There are 2 key points to pay attention.

1. Although the percentage decline in the gold PRICE has been significant >30%, the volume decline on the OBV has been smaller <30%, which is a clear sign of ACCUMULATION on price weakness in the last 2 yrs.

2. Look at the recent bullish volumes relative to the bearish volumes pre 2001, there is massive interest in accumulating this market, this is likely Asian buying that was less significant pre 2004.