{"id":421095,"date":"2020-04-17T16:00:32","date_gmt":"2020-04-17T16:00:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=421095"},"modified":"2024-06-11T13:47:36","modified_gmt":"2024-06-11T13:47:36","slug":"gold-indicator-flips-green-signaling-potential-decade-of-uptrend","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/gold-indicator-flips-green-signaling-potential-decade-of-uptrend\/","title":{"rendered":"Gold Indicator Flips Green, Signaling Potential Decade of Uptrend"},"content":{"rendered":"
Gold<\/a>, the original store of wealth and safe-haven asset, recently set a new seven-year high as the recession ramps up. But as the high was tapped, profit-taking began and a pullback ensued.<\/p>\n However, one long-term trend finding indicator has flipped green on monthly timeframes, potentially carrying gold to a new all-time high and a decade of bull run.<\/p>\n This week, gold reached a high of $1,747 before profit-taking at previous bull market resistance began, causing a pullback in price.<\/p>\n The precious metal has been surging due to fears over a major recession hitting, causing investors to cash out stocks, cryptocurrencies, to move into gold or cold hard cash.<\/p>\n Related Reading | Gold Taps New High, Indicators Show Rally Has More Fuel in the Tank\u00a0<\/a><\/strong><\/em><\/p>\n Gold<\/a> took a strong hit during the initial selloff but quickly rebounded back to current prices. If the coronavirus wasn’t enough to stop gold’s uptrend, then natural profit-taking won’t make a dent.<\/p>\n In fact, a long-term trend finding indicator \u2013 the Super Guppy \u2013 has flipped green on monthly timeframes, signaling an extended bull market for the precious metal.<\/p>\n The Super Guppy has flipped green on monthly XAUUSD price charts, signaling an extended uptrend is ahead.<\/p>\n The last time the indicator flipped green like this, gold was trading below $400, and a decade long uptrend began. A short-lived correction happened in 2008 as the Great Recession took hold of the economy, much like the coronavirus just has.<\/p>\n But gold quickly recovered, and rocketed toward its all-time high of over $1,900 in September 2011, just as the economy began to recover.<\/p>\n Gold<\/a> entered a bear market after that, but a new bull market has been brewing for the better half of two years.<\/p>\n When global trade tensions began to increase between China and the US<\/a> earlier this year, gold prices began to increase slowly and steadily. Recently, as recession fears increased, gold has been surging, growing over 7% in April alone.<\/p>\n Related Reading | Gold and Silver: Accurate Sell Signal Could Tarnish Precious Metal Rally<\/a>\u00a0<\/strong><\/em><\/p>\nXAUUSD Preparing for Decade Long Bull Run, According to Indicator<\/h2>\n
Super Guppy Turns Green, Showing That Not All That Glimmers Is Gold<\/h2>\n