Gold 4 Hour Price Update
Updated January 05, 2021 01:58 AM GMT (09:58 PM EST)
Gold came into the current 4 hour candle down 0.08% ($1.62) from the open of the last 4 hour candle, marking the 2nd consecutive candle it has gone down. Relative to other instruments in the metals asset class, Gold ranked 2nd since the last 4 hour candle in terms of percentage price change.
Gold Daily Price Recap
Gold came into today up 2.33% ($44.18) from the open of the previous day, marking the 5th consecutive day an increase has occurred. Relative to other instruments in the metals asset class, Gold ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Gold below illustrates.
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. For another vantage point, consider that Gold’s price has gone up 7 of the previous 10 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 Noble_Investor:
@thrishul Adani green with EPS 1.65 is priced 10 times it Book value. From onion price to Gold price , everything moves based on supply and demand itself. The surge can be created by various factors like low P/E ,high EPS or any other ratio. If something is excess then it will be low value
- From Galactic_Trader:
@Caseforsilver Historically, #silver spikes don’t last nearly as long as #gold price spikes. So silver miners don’t get an opportunity to profit from the high prices. Also, most silver miners are hybrids and produce just as much gold and other base metals. Gold rises & finds a higher plateau.
- From GoldTelegraph_:
Gold will showcase its resiliency in the coming weeks and the mainstream media will probably say nothing…Why is that? Because governments know the real threat of hyperinflation is through the gold price. Tangible decentralized metal… a real problem for them. FACTS!
In terms of news links for Gold here’s one to try:
In practice, the international price for gold is set by the gold markets which have the highest trading gold volumes and gold liquidity, namely the London Gold Market and the COMEX gold futures market….The international gold price is therefore set by 2 markets, the London OTC gold market and the COMEX gold futures market, both of which are paper gold markets and both of which generate trading volumes far higher than the amount of physical gold underpinning this gold trading….However, similar to the LBMA Gold Price, the LME gold reference prices also represent trading of unallocated (synthetic) gold in the London market, and not the trading of physical gold….As the world’s physical gold markets are price takers that use the international gold price as established on the London OTC and COMEX gold markets, these physical gold markets take in the gold spot price feeds as discovered on these international gold markets….The Bid price for a gold bullion bar or gold bullion coin, also known as the buy price, is a price quote for an immediate purchase of that gold bar or gold coin….The Ask price for a gold bullion bar or gold bullion coin, also known as the offer price or sell price, is a price quote for an immediate sale of that gold bar or gold coin.