From 2001 until 2011, Gold & Silver both outperformed the S&P 500 by more than 500% each!
No doubt it paid to own Gold & Silver over the S&P 500 from 2001 to 2011. As we all know at this time, the performance between the three has done the exact opposite over the past 6-years, as it has paid to own the S&P and avoid Gold & Silver. Is in now time to consider that Gold & Silver could be ending the 6-year bear market in metals?
Below looks at only Gold & Silver since the late 1990’s and why the price point in Gold & Silver are testing what could be historically important levels.
The above chart reflects that Gold & Silver on a monthly basis are both testing 16-year rising support at this time. Despite Gold & Silver being lower over the past 6-years, this reflects that both are in long-term rising trends, where support is being tested.
Joe Friday Just The Facts: Support is Support until broken and both are testing long-term support at this time. What both do at this support test should send very important long-term messages about the metals space and will lead to wonderful opportunities.
The SPDR Gold Trust ETF (NYSE:GLD) closed at $116.77 on Friday, up $0.95 (+0.82%). Year-to-date, GLD has gained 6.53%, versus a 9.86% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Kimble Charting Solutions.