Some Incredible Gold Charts

Gold has been a part of the culture and economy of different civilizations and countries. The oldest Egyptian jewelry pieces were traced back in the third millennium BC. Egyptians use gold as a part of their everyday living and their religious beliefs. Romans on the other hand, first used gold for their main currency. 

Gold is a timeless mineral which value increases through time regardless of the economy status of a country. These are some of the reasons why it is always safe and wise to invest on Gold. 

Below are Gold Charts which shows a pattern called “Golden Cross” or “Bull Cross”.


These charts are from Goldseek.com (http://news.goldseek.com/GoldSeek/1351710523.php). 


 


 


Featured is the daily gold chart. A few weeks ago the 50DMA once again moved into positive alignment with the 200DMA (blue arrow). For confirmation we wait till both moving averages are rising (as now). When price closes above the green arrow we will make the assumption that the pullback that began in early October has run its course. The RSI at the top of the chart has changed from overbought to oversold. The MACD at the bottom of the chart is back at a year-old support line. The CCI just below the chart is making its customary bottoming confirmation pattern (green boxes). 

How high will the gold price go this time? In order to match the 2006 advance, price could reach $2740; to match the 2007 performance gold would top out at $2640, but in the event that gold matches the performance of 2011 we could see gold trading at $3,330. According to Mark Twain ‘history does not always repeat, but it often rhymes.’ 


Source: 


http://news.goldseek.com/GoldSeek/1351710523.php; 


http://bullion.nwtmint.com/gold_history.php; 


http://www.aldokkan.com/art/gold.htm