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There are many ways to measure market sentiment for gold. One way to do it is by checking Google Trends to see how many have searched for the term “buy gold”. That way you get a very broad definition of the positive sentiment in gold

From the chart below we see that we just have had a top in sentiment in gold in the beginning of August. Last time before that was in October 2008. The price of gold took a deep three-week dive right after the October top before the strong trend continued.

What seems to be a bit stretched in the picture though, is that the news references just made a huge spike in august. More notable than the spike in October 2008. This spike, however, totally died out for the last days which could make gold bulls relax a bit.

I am not very found of doing quantitative research with so few observations (the peeks), but this is one of many tools about how to look at quantitative-, technical-, or sentiment analysis.

Enjoy!

gold positive sentiment trend

Related Articles:
Should I Buy Gold?
Platinum and Silver vs. Gold


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