Gold is in a long-term bearish trend

14 ביולי 2015

Since 2011 Gold is in a steady downtrend. The period from 2004-2011 appears to be a huge bubble and it's correcting down back to the mean value.

It seems Gold behaves like the market cycle shown here:
ritholtz.com/blog/wp-content/uploads/2010/06/Psychology-of-Market-Cycles.jpg