Gold Daily Price Recap
The back and forth price flow continues for Gold, which started today off at 1687.40002 US dollars, down 0.25% ($4.29993) from the previous day. On a relative basis, today was pretty good: Gold bested all 5 of the assets in the metals class 🙂 Let’s take a look at the daily price chart of Gold.
Gold Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Gold’s price has gone up 8 of the previous 14 trading days.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Gold for the past day were:
- 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 GrantMBeasley:
@BullishBearz @LamboJohnny @CastleMarkets @mrsjennylambo @AnitaSharma @Montana8169 @nickchen66 @ericnuttall $GSX.V $GXSFF $0.50 to $0.75 next 12 to 24 m. The higher the gold price goes the higher those values increase. Low capex, US$1000 margins. 75k to 100k oz of production 2023. NPV that vs. C$43 m mkt cap What’s not to like? 🚀🚀🚀
- From khughbreslin:
@MagicPoopCannon War is such a 2010 mentality-not gonna happen. Nothing is going to get in the way of the gold standard returning, gold price reset, and a debt jubilee… all of these projects are meant to avoid a war. Oil futures 30 days out are 22-30$ a barrel.
As for a news story related to Gold getting some buzz:
(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.