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Gold on Pace to End Longest Streak Above 200-DMA...Ever

As the dollar has been breaking out, the price of gold has been breaking down.  Today, gold dipped below its 200-day moving average (DMA) today for the first time since January 2009.  If gold closes below its 200-DMA it will mark the end of the longest ever streak (732 trading days) of consecutive closes above its 200-DMA.  Over the course of that streak, gold rallied nearly 125% to its highs earlier this year, and has since declined 16%.  Even after the recent decline, though, gold is still up 88% since the last time it closed below its 200-DMA.

Earlier today we sent out a report highlighting how gold performed following prior streaks of a year or more where the commodity closed above its 200-DMA.  To view that report click on the link below.  If you are not yet a Bespoke Premium client and wish to subscribe, sign up today.

Gold Streaks Above 200-DMA

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