Gold Daily Price Recap
The choppiness in the recent daily price action of Gold continues; to start today, it came in at a price of 1725.59998 US dollars, down 1.28% ($22.45) since the day prior. 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 day prior. Below 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. Or to view things another way, note that out of the past 14 days Gold’s price has gone up 9 them.
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 Ellis_Greenwood:
@greatlakesforex @Gforse1 @helgy2 @mindedmusically @janineyve @StrongbowsPub @ElContador2000 @AsselbergsSimon @BlackwaterRive2 @Gravity_v20 @TIMGOLDFINCH @Lars9596 @mostcertainty @jbhearn @FoolOfLondon @Charlie_45uk @Jag11814459 @takeitwithsalt @arthur_eckart @Smithdsd11 @shuma0963 @Colin00007 @l_lucullus @juancastanedaf @notayesmansecon @jenninemorgan @StewartButton @PerKurowski @brianbloop2 @ian_jones64 @John_Stepek @siasees @schulte_stef @Cherrieyang @DilipShah_ @The_Ledge_ @GrubStreetJorno @mmt_rod @richyphillips @RussPurdie @IamalrightJack @tinmantc @askeamonn @Natteramnoslo @RalphMusgrave @mtmalinen @mrcoolbp @nspec2a @FawkeEU The fed should recapitalise the system by changing the statutory gold price from the $42.22/oz it is now to $50,000/oz for the 261m oz of gold in their vaults and up rates to clear the crap away.
- From theatmoplex:
Nothing else was really changed or added in this patch, although they did make an entirely new Daisy Lumi pet which is what is shown in the previous post. The old one seems to have been left alone and not changed, likely because of the Gold price it had at release.
- From DznBkr:
Despite being bullish gold and gold stocks, took a bunch off my $EVN position. Gone from cheapest to priciest large cap ASX goldie in 2 months. Focusing more on smaller names with event catalysts to drive returns rather than being reliant on gold price and capital flow momentum.
For a longer news piece related to XAUUSD that’s been generating discussion, check out:
The gold to silver ratio – it has just shattered its former all-time highs….Below we show a quarterly close of the gold to silver ratio dating back to 1940: When is the only other time in history that the gold to silver ratio has broken out to a new all-time high?…Thus, changes in the gold to silver ratio primarily reflected changes in the price of silver….Remembering that in 1930 gold served as money by backing the dollar, what was witnessed in early 1930 by the gold to silver ratio breaking out was a warning that the most severe deflation in the history of the United States was about to occur….You be the judge; The same signal which last appeared in early 1930 at the start of the Great Depression has just appeared again – the gold to silver ratio has, in March 2020, broken out to a new all-time high….The gold to silver ratio has shattered previous all-time highs, exactly as it did during the first wave of the Great Depression.