« S&P 500/Gold Correlation Spikes | Main | US Dollar Breaks Out »
Wednesday
Dec142011

Gold on Pace to End Longest Streak Above 200-DMA...Ever

As the dollar has been breaking out, the price of gold has been breaking down.  Today, gold dipped below its 200-day moving average (DMA) today for the first time since January 2009.  If gold closes below its 200-DMA it will mark the end of the longest ever streak (732 trading days) of consecutive closes above its 200-DMA.  Over the course of that streak, gold rallied nearly 125% to its highs earlier this year, and has since declined 16%.  Even after the recent decline, though, gold is still up 88% since the last time it closed below its 200-DMA.

Earlier today we sent out a report highlighting how gold performed following prior streaks of a year or more where the commodity closed above its 200-DMA.  To view that report click on the link below.  If you are not yet a Bespoke Premium client and wish to subscribe, sign up today.

Gold Streaks Above 200-DMA

References (2)

References allow you to track sources for this article, as well as articles that were written in response to this article.
  • Response
    UGG Boots were very well recognized for becoming the makers of higher good quality footwear
  • Response
    Response: Tokonoma discounts
    find Tokonoma deals, Tokonoma reviews at http://www.dealsextra.com.au/business/Tokonoma.php

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>