Gold 4 Hour Price Update
Updated January 12, 2021 01:59 AM GMT (09:59 PM EST)
Gold is down 0.03% ($0.55) since the last 4 hour candle, marking the 3rd candle in a row a decline has happened. Relative to other instruments in the metals asset class, Gold ranked 4th since the last 4 hour candle in terms of percentage price change.
Gold Daily Price Recap
The back and forth price flow continues for Gold, which started today off at 1844.66125 US dollars, down 0.2% ($3.65) from the previous day. Out of the 5 instruments in the metals asset class, Gold ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Gold.
Gold Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Gold’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
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 InvResDynamics:
Note: London is a de facto paper market and the fix is used as conduit as part of the effort to suppress the gold price. This why all of the info reported by the LBMA is more opaque now. The fix data used to be reported an hour after the event. Now it’s delayed 7-8 hours. Why?
- From equitymrkt:
⭕️ Whn gold go down everybody rush to buy in & when it grows nobody wants to sellBut when quality stocks go down ppl dont care & when it raise people rush to buy higherThis shows people know the story behind gold price & donot know the story behind the stock price
- From XAUUSD_li:
The short-term gold price is under pressure, but the long-term bullish outlook remains unchanged; there are currently two catalysts leading to the sell-off of gold.Rising bond yields and economic troubles. This led to liquidation and cash fleeing#gold #xauusd
In terms of news links for Gold here’s one to try:
“Right now, for the most part, rising Treasury yields provided a bid for the dollar, responsible for the selloff in gold,” said OANDA senior market analyst Edward Moya….Gold is seeing intense technical selling.” The gold space would see $100-moves in the next couple of days, added Moya, telling investors to pay attention to the U.S. dollar….When you look at gold’s positioning, you see a diversification away from gold into cryptos.” Bitcoin is seeing new investors on the flight to safety argument, said Walsh Trading co-director Sean Lusk….What happens when the gold price drops below $1,800?…The big line in the sand for next week will be the $1,770 level — which was the November low, said Moya.