Gold Price Chart Update: much Ado about Nothing?

Today, we contrast the many agitated comments of recent days and hours with a long-term view of the gold price chart.

For two years, the gold price has been steadily moving upwards within the red trend channel with relatively low oscillation. The sideways movement that formed after exceeding the upper trend line, below the grey resistance line, was recently overcome dynamically, and the price once again approached the trend line, followed by a small decline of a few percent so far.

Long-Term Gold Price Uptrend Intact

Towards the end of the current year, the 200-day line, the resistance line, and the lower trend line converge in the range between $3,400 and $3,500. As long as the gold price remains above this, the long-term uptrend is intact.

The two indicators shown have currently reached significantly high levels within their respective fluctuations – a decline within the scope of previous movements would also be considered normal here.

Gold Price Chart since 2023 — *The Gold Price in Long-Term Perspective; Source: Comdirect*

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