Gold Price Outlook: XAU Breakout Takes Out 1800 – Fresh 8-Year Highs
Gold Price Outlook: XAU Breakout Takes Out 1800 – Fresh 8-Year Highs! Just as we predicted in our most recent Bullion Briefing, the XAU has taken a huge step and is now beyond the support zone of the last close. And what a remarkable candlestick to start out the week off with. There’s something very exciting about this XAU, and it’s “crowd” is huge, too. Each of the four major indicators has blown out of the water the previous closing highs. So how did this XAU get to where it is? Read on to find out.
We’re bullion journalists by profession, so you may be familiar with a product called XAU. What is it? It’s a combination of various precious metals, which all come from an “X” shaped blend of these precious metals. I am not a product designer but I am sure that they took their time selecting the right blend for their product design and appeal.
And there’s more to it than just their design and appeal, but it’s bullion and not precious metals. It’s in a very rare and unique and will give you the history of its creator, the evolution and diversity of its story, and its evolution to the next level. This is in addition to a visual appearance that some people find irresistible.
The fact that they went with the bold X gives the impression that it represents a high probability and will hold an incredibly high probability over the long run. The fact that this market is in an uptrend means that people are now buying and holding this commodity for a long time ahead. That’s good news for everyone involved in the gold industry.
What happened recently to bring the breakout to bearish levels? According to Nick Colas, the founder of the SmartEngage Bullion Research and Consulting Company (SMART) in Australia, “The XAU rally has broken out and is running hot. Gold prices have weakened and have traded above the 200-period simple moving average (SMA). The price seems to be holding strong on the short term. This resistance level held by the XAU could be a major support and resistance area.”
On the other hand, John Grace, an economic commentator in the UK, thinks the whole thing can be reversed at any time and it’s likely to move back to resistance by the end of March. Both experts, John Grace and Nick Colas, have an excellent track record and can tell us a lot about what’s happening with this market.
Because it is so popular and famous, a lot of people want to know exactly when this market broke out. Is it a new type of currency? A rumor of another global crisis?
But this XAU market has always had a successful history. It broke out, there was a huge rally during the early days of the market, then the market went down once again, the rally was revived and then the price went up again.
It is not a new currency or some sort of new trend that will lead to a great rally. This type of market is basically the old fashion, where gold was used for money and not just for keeping the value of your wealth safe. It was originally used by kings, emperors and rulers to keep them secure against everything else going on.
I think it is really important that people remember this is not a new trend, this is still the same thing that the same old king would use thousands of years ago, and before he needed it for his needs. – food, shelter, clothing, etc. The basics of gold, like silver, are used and needed throughout the world.
Bullion investors should still be able to make good profits and investments, because gold and silver always have at least some value. and they can help protect wealth from inflation.