Gold (XAUUSD) 3 Day Down Streak Snapped; in an Uptrend Over Past 14 Days

Gold Daily Price Recap

Gold is up 0.43% ($7.19995) since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the metals asset class, Gold ranked 2nd since yesterday in terms of percentage price change. Here is a daily price chart of Gold.

Gold Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Gold’s price has gone up 8 of the previous 14 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Gold:

  • From KarelMercx:

    The gold mining companies make a lot of money with a gold price of $1700 and oil of $15. After all, 25% of the production costs are energy. The energy bill has fallen by 75% in recent months! And that money that the gold mining companies don’t spend goes directly to profit.

  • From DebraRo91758510:

    $NCM: Allan Gray Australian Equity Fund Top 10 Holding (3% Gearing) – with gold price north of A$2,500oz, 40% above last year’s levels, with profits expected to increase materially on 2019’s levels, $NCM is far more attracively priced than the x19 P/E multiple suggests

  • From JohnCioffoletti:

    @winklevoss $BTC should be thriving in this environment. This is the perfect storm without factoring the halving. Reckless monetary policy, equities & oil collapse, social fears and a strong Gold price. The lights are on, $BTC needs to shine.

In terms of news links for Gold here’s one to try:

Time to target $1,900 gold price, here’s the timeline – TD Securities | Kitco News

(Kitco News) A new bullish call was issued by TD Securities on Monday, targeting $1,900 an ounce gold in just three months….Gold’s investment demand is projected to rise more than expected, the authors of the trade call added.