I have posted below the year-end price of gold starting with the year 2000, the first up-year of one of the greatest and least appreciated bull markets in history. Take in this series, you may never see its like again.

2000 — $273.60

2001 — $279.00

2002 — $348.20

2003 — $416.10

2004 — $438.40

2005 — $518.90

2006 — $638.00

2007 — $838.00

2008 — $889.00

2009 — $1118.40

2010 — ?

I’ve been around a long time, and I’ve studied many primary bull markets. And now I want to venture a few of my observations.