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To quote Richard Russell

Submitted by Roanman on Fri, 12/30/2011 - 17:14

 

From today's installment of Richard Russell's Dow Theory Letter.

 

Below are the last day of the year quotes for gold.

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 -- $1096.50
2010 -- $1421.40
2011 -- $1566.80

This year's close for gold marks the 11th year for higher year end gold closing.

To my knowledge this is the longest bull market of any kind in history in which each year's close was above the previous year.

This fabulous bull market will not end with a whisper and a fizzle. I continue to believe that the upside gold crescendo of this bull market lies ahead.

We are watching market history.