Today marks the final day before traders and investors call it a wrap and begin their holiday season celebration. The overwhelming characteristics that defined today’s trading activity were quiet and subdued.
With that in mind, this might be an excellent time to look at recent price action in gold, and put that action into the perspective of what happened this year. It is also good time to take a look at what has transpired this year, and then, see how this year’s activity fits within a longer-term perspective. When we look at the most recent activity in regards to gold pricing, we see that it has been in a defined correction, which began in July of this year. The correction then accelerated the pace of decline at the beginning of November, and gold’s pathway continues to this day.