Gold is not done just yet

Gold price history from the past 100 years. Take a look at the chart below which illustrates the over this time period.

Looking at gold prices, much of price has been motivated by supply and demand. But even though that may be the case, technical chart investors will always be driven to buy and sell based upon what they will see in the technical aspects of trading, such as moving averages, volume and Fibonacci levels.

Gold Price History in the 70′s

As you can see by viewing price of gold, it’s approaching its all time high back in the 70′s. I believe from a technical standpoint, if price breaks through the magic level of $1800 per ounce and holds above it, we may not see the end of the run for a while.
Some economists have been arguing for years that the price of gold and silver are very under inflated. Looking at pricing for close to 100 years, I could not agree. The gold price history of the late 70′s and early 80′s do seem outrageous, compared to previous years. But then again, the gold price history was very stagnant for years before.
Looking at the prices today, the technicals and the fundamentals are all seeming to line up. when several major economies are showing very weak currency values, this will normally lead to hedging wealth with precious metals and it has been.

Gold Price into the Future

Until the world can start the economy growing again without providing stimulus through the printing of money, Gold is going to be a safe haven and therefore a currency. On any pullback I'd be a buyer of the yellow metal.