Gold 4 Hour Price Update
Updated January 06, 2021 01:58 AM GMT (09:58 PM EST)
The back and forth price flow continues for Gold, which started the current 4 hour candle off at 1950.07996 US dollars, down 0.06% ($1.15) from the previous 4 hours. Gold outperformed all 5 assets in the metals asset class since the previous 4 hours.
Gold Daily Price Recap
Gold is up 0.36% ($7.07) since the previous day, marking the 6th straight day an upward move has occurred. On a relative basis, Gold was the worst performer out of all 5 of the assets in the metals asset class today. The daily price chart of Gold below illustrates.
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 additional context, note that price has gone up 9 out of the past 14 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Gold:
- From Orwellforesawi1:
@JulieWa95599900 @CromwellStuff @RishiSunak Indeed. Back in the 30’s the U.S. govt passed a law requiring people to sell their gold to them at 20 dollars/ounce. Then put up the gold price to 30 & same time devalued the dollar. It was State theft! I can see similar here maybe to do with property!?
- From JeschildTan:
@Coizy_ @woonomic @DrIacob I thought Peter Schiff and the likes had called for $10k gold price since 10 years ago? 5 years ago, I bought gold based on such “predictions” by Schiff, Rickards, etc. I was glad I took decisive responsibility for my own wealth and went down the #Bitcoin rabbit hole.
- From IdrisRivers:
#LND @landore_plc 1.3 million ounces at 97-99% recovery open-pit BAM deposit in Ontario. At current gold price (1900USD an ounce), that’s a post-tax NPV of ~ $350 MILLION. And that’s just the gold project, they’ve also got Nickel coming out of every orifice.
As for a news story related to Gold getting some buzz:
Their prices and the prices of countless other assets – including precious metals, Bitcoin and the stock markets – are rising because the demand for the dollar is falling. The mainstream media often reports on the supply of dollars, but like any other good or service, the value of the dollar – its purchasing power – is also subject to supply and demand….A decline of that magnitude in about 10 months is rare for even a third world currency, but we are talking here about the US dollar, the world’s reserve currency.