Above is the XGLD, World Gold Index since the start of this year to the close on 9/17/10.
Gold started the year around $1086 and the World Gold Index closed at $1275 on 9/17/10. This is a 17% return so far. How much did your savings account return on your money? Did you have any other investments? Stocks? Bonds? CD's? T-Bills? Money Market? How is the year to date return on those investments so far?
Commodity bull markets last for over a decade and this one should be intact for a few more years. (As heard from so called experts). If that is true, we still have 2-3+ years of some very good gains with Gold. Individuals that continue to keep their money in savings accounts have missed out on very good gains over the last 9 years.
As far as the chart and technicals, the price broke through the old all time high of 1266.50 and settled at 1275.90 for the close on 9/17/10. The 50 dma is close to crossing over the 100 dma which will complete a bullish trend with the 15 dma over the 50 and the 50 over the 100 dma. MACD histogram is heading back up and this suggests higher near term prices going forward. $1300 Gold may be seen soon should the trend continue.