Gold, like a slumbering giant, has come to life. After a three-year interruption of the great gold bull market, something remarkable is beginning to occur. You can see it in the chart below. The chart shows three stabs to the downside, but the latest dip completes a head and shoulders bottom, with gold now surging above both its moving averages. This is the start of the biggest story of the world monetary system for this generation. The giant of true money has reversed its decline and has broken out into the open!
Gold is the one currency that has been the cornerstone of wealth for 5000 years, and is still considered pure wealth today. Gold always retains value, while every paper currency system in history has failed. Foreign central banks are, right now, quietly building their hoards of gold, as they prepare for their next moves.
It is vital for all investors to understand the meaning of the monumental changes that are now upon us.
About Richard Russell
Richard Russell began publishing Dow Theory Letters in 1958, and he has been writing the Letters ever since (never once having skipped a Letter).
