Gold Major Highs and Lows

The above chart (click to enlarge) has the gold price's major lows and highs (London fix) of the last decade since the very low of USD 252.80 on 1999-07-20.

Nevertheless, it has also been some time since the last all time high of USD 1'895.00 on 2011-09-05, and right now the gold price is closer to the last major low of USD 1'531.00 than making a new all time high. However there have been three other instances during this time frame in which it took even longer to make a next higher high (but that might go down to only two in another three weeks), and also where the draw down has been also bigger in the area of -20 to -30 %. See the details below.

Anyway, just some reading in the tea leaves, or in other words - the trend is your friend, until the bend at the end.

Major Highs

High No. 1
Date range:                   1999-10-05 - 2002-05-29
Length in business days:      669
High:                         325.50
Low:                          255.95
Draw down during this period: -21.37 %

High No. 2
Date range:                   2006-05-12 - 2008-03-17
Length in business days:      462
High:                         725.00
Low:                          560.75
Draw down during this period: -22.66 %

High No. 3
Date range:                   2008-03-17 - 2009-09-17
Length in business days:      378
High:                         1'011.25
Low:                          712.50
Draw down during this period: -29.54 %

High No. 4
Date range:                   2011-09-05 - today
Length in business days:      364
High:                         1'895.00
Low:                          1'531.00
Draw down during this period: -19.21 %

High No. 5
Date range:                   2004-12-02 - 2005-10-11
Length in business days:      214
High:                         454.20
Low:                          411.10
Draw down during this period: -9.49 %

High No. 6
Date range:                   2002-05-29 - 2003-02-05
Length in business days:      173
High:                         327.05
Low:                          302.25
Draw down during this period: -7.58 %

High No. 7
Date range:                   2004-04-01 - 2004-12-02
Length in business days:      170
High:                         427.25
Low:                          375.00
Draw down during this period: -12.23 %

High No. 8
Date range:                   2003-02-05 - 2003-10-03
Length in business days:      145
High:                         382.10
Low:                          319.90
Draw down during this period: -16.28 %

High No. 9
Date range:                   2009-12-02 - 2010-06-28
Length in business days:      139
High:                         1'212.50
Low:                          1'058.00
Draw down during this period: -12.74 %

High No. 10
Date range:                   2003-10-03 - 2004-04-01
Length in business days:      126
High:                         384.25
Low:                          370.25
Draw down during this period: -3.64 %