Gold (XAUUSD) Up $1.34 Over Past 4 Hours, Moves Up For the 3rd Day In A Row; is Inching Close to 20 Day Average

Gold Daily Price Recap

Gold closed the day prior up 0.38% ($6.9); this denotes the 3rd day in a row it has gone up. Out of the 5 instruments in the metals asset class, Gold ended up ranking 3rd for the day in terms of price change relative to the day prior. Here is a daily price chart of Gold.

XAUUSD

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 down. For another vantage point, consider that Gold’s price has gone up 5 of the previous 10 trading days.

Overheard on Twitter

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

  • From Oncryptobreak:

    $ftm is currently building strong foundation layers which will never show-up after it grows tall and strong! I am really glad that we are all part of this so early! Trust me, we will literally laugh at the current price ($0.14) in few months! Just like gold price in 1940. 🤣

  • From Lloyd96J:

    @AndyMichael83 Well there was a comparison company heap leaching at a 1:4 strip ratio and came in at ~$600Usd/oz AISC, love to see what NVA is with a 1:1 strip ratio. Some estimates are $900usd/oz for PRODUCTION. That’s 50% profit at $1800oz gold price 🤯 NVA 🚀

  • From sukmaikok:

    @PeterSchiff Schiff predictions since 09.09-
    Currency crisis,
    Hyperinflation,
    Dump US stocks(missed biggest bull run in US History),
    Stated FED would NEVER raise rates.11-
    Aug 2011 said gold price had no ceiling.12- called gold $5000Bitcoin to zero since $17.Collected fees.

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

Gold Price Forecast: XAU/USD Pulls Back to Resistance After Break Down

Chart prepared by James Stanley; Gold on Tradingview The current zone of resistance comes from an interesting spot on the chart that’s previously helped to set some support in mid-December of last year, and then again in mid-January of this year….Chart prepared by James Stanley; Gold on Tradingview At this point, the inverse correlation between Gold and the US Dollar appears to be back in order, shown on the lower-portion of the below chart….Chart prepared by James Stanley; Gold on Tradingview At this stage, the US Dollar has pulled back to test trendline support from prior resistance.