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Posted on 7 July 2012 | 1,751 views

Historical Daily Gold Data Download

The Gold Market has been so frustrating of late that even some contrarians are throwing in the towel.

After hitting a bull market high last September at over $1,900 an ounce, gold bullion fell more than 15% through the end of the year. Over the first two months of this year it rallied strongly, rising to around $1,800, but thereafter faltered — and trades today at more or less where it stood at its late December low.

The 2012 gold market might be analogous to the 1974-1975 period — in which gold prices endured an extended 50 percent decline before regaining their footing and finally going parabolic.

Gold’s downward correction since September is now taking longer than it did in 2008.

The 2008 decline from March to November was steeper and gold lost almost 30%. The current decline has been mild in comparison, losing nearly 20%.

Since the 2008 decline was the worst one in the 11 year old bull market, it again reinforces the importance of last December’s low.

If gold breaks clearly below $1536 for a few days, we could see gold fall much further first, before a renewed rise again starts. A 30% decline similar to 2008 for example could take gold to the $1350 to $1400 level.

Download Daily Gold Data 1973 thru 2009 in Excel format.

Download Daily Gold Data 2010 thru 2012 in Excel format.

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