Loading ...Gold In Decades
We focus on Hourly Daily Weekly and sometimes even Monthly charts
I just thought I’d have a look at a Yearly Chart of Gold
Interesting :
Most of us only get 7 or 8 decades if we are lucky .
Personally I was born in 1950….So I have had 6 of them and am starting the 7th .
1950s and 1960s ( my first 20 years when i didn’t know gold from a hole in the ground) Gold was fixed at $35
…………..
1970s ( my 20s when I couldn’t care less about Gold) was a great time to be a Gold Bug !
…………..
1980s and 1990s …my 30s and 40s Gold was not so much fun (except for the Bre-X years 94 to 96)
………….
2000s … my 50s was a great time to be a gold bug and I was !.. Look at that a decade where every year was UP.
…………..
2010s… my 60s has been dull and not so much fun , but at least I made a lot of good friends here at the tent.
………….
Now….Here come the 2020s… my 70s
Will history repeat and we all will die of boredom ?
Will I have to wait for another decade until my 80s…. when I may forget where my stash is ?
Or is this decade going to be DIFFERENT ?
Mature Audiences Only
Nice Post Fully. Its a nice thesis, and one to keep a very close eye on. I’m in a fortunate position because I boudht the miners close to the bottom in 2015, 2016 and 2017, averaging about 140 HUI. If gold only rises to about 1800, HUI should be somewhere above 400. That’s roughly the level I expect to start dropping into the 2024 cyclical low, so I will sell All of my mining shares and wait for the low to pass before re-entering. That’s my plan anyway. Let’s see if it works out.
Looks as though it’s an overall up market for gold prices, long term, in US dollar terms. Buy and hold probably tends to work except for taxes.
Same could probably be said for most things because of the loss of purchasing power of the US dollar however, probably. I suspect even buggy whips are going up in pricing. I have not checked antique web sites for buggy whip prices however.
To be more serious, if someone were to flash this chart in front of me, not tell me what it was or the time intervals, I would think it was something probably worth considering buying right now. Looks pretty good at a glance to me though no guarantees that it couldn’t move indecisively for a few more decades or even go down a lot.
My thoughts exactly Karl. The breakout candle could be 2020, with a convincing close above 1700.
BTW, I LOVE those yearly candles… The ultimate noise reduction!