Earlier this month, we did a piece looking at the rapid acceleration of gold gains, showing that it was taking less and less time for prices to climb between benchmark levels. With today’s close over $1,800 per ounce, a new record is in and a new record for speed is in as well – with the move taking just 10 days for gold to go from closing above $1700 to closing at $1822 as of today.
It may be a barbarous relic. It may only be worth what the next sucker will buy it from you for. Its value may be merely sentimental. It may be all those things, but it’s making (and losing) people money across the world. How long until $1,900. Do I hear 8 days, 5 ? How long before we hit $2000?
|
Gold Move |
#of Days |
|
$1700 to $1800 |
10 |
|
$1600 to $1700 |
18 |
|
$1500 to $1600 |
66 |
|
$1400 to $1500 |
139 |
