muses of the moment

March 20, 2013

Chart of the Day-Long term gold

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 11:39 am

Chart of the Day had a long-term gold chart today!

Click here.

Gold is testing the resistance level on the latest trading channel that begin between 2008 and 2009. This is a long-term chart. Notice the changes in trend since the low in 2001?

This long-term bull market in gold and silver is doing exactly what it should be doing. But this a long term place to put money. It is not a day-trading market anymore. If you need regular income, stocks or corporate bonds are better. But everyone should have at least 20% of their total wealth in physical gold and silver held outside the banking system to protect against a currency crisis or revalue in the future. anything beyond that is up to your individual financial needs and risk nature.


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