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The Reason You Should Have Gold in Your Possession

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Two big uptrends in the gold market occurred in the years 1971–1980, during which gold went up by two thousand two hundred percent. Also, from 1999 to 2011, the value of gold increased by a whopping seven hundred and sixty percent. In between the two uptrends, the gold market experienced two downtrends, one from 1981 to 1998 and the other occurring from 2011 to 2015. Ever since the year 1971, gold has increased in value by five thousand percent, even after the setbacks caused by the previous downtrends.

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Presently, another uptrend is developing. This uptrend started on December 16th, 2015, when gold reached its all-time low of $1,050 per ounce at the close of the downtrend, which happened between 2011-2015. However, gold is now nearly twice the price of $1,050. This is an impressive performance, but one of a lesser magnitude when put side-by-side with the two thousand percent and seven hundred and sixty profits that were recorded during the last two uptrends in the gold market.

In the money and commodity markets, things don’t move in a perfect line, particularly gold. Nevertheless, this pattern points out that the biggest profit in the gold market is yet to be witnessed. And at this point, my analysis is revealing that the gold market is ready for another huge profit as the third big uptrend is gathering momentum.

Ten percent of one’s investment portfolio ought to be set aside for solid gold – either in bars or coins. It is then, one can sit back and relax.

The Reason You Should Have Gold in Your Possession

Weekly Technical Analysis for Gold
For about five weeks straight, gold has been gathering gains. However, going by the weekly chart, some of these gains were more significant than others. Nevertheless, technical indicators are still pointing to the fact that this gain may continue.

Price activities are still occurring above the MA line of the Bollinger band. Also, the price candle seems to have found support at the Fibonacci level of 28.60, while the MACD keeps indicating a gain in upside momentum through its histogram bar. Even the lines of the RSI keep flying at the peak of the oversold indicator. Therefore, the third uptrend in the gold market seems to be truly underway.

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