Gold 4 Hour Price Update
Updated January 08, 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 1916.12 US dollars, down 0.08% ($1.62) from the last 4 hour candle. 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 is down 0.33% ($6.31) since the previous day, marking the 2nd day in a row a decline has happened. 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 previous day. Let’s take a look at the daily price chart of Gold.
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 another vantage point, consider that Gold’s price has gone up 8 of the previous 14 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Gold:
- From DenizenPH:
@BNODesk Shijiazhuang has one of the world’s largest producers of Cyanide products, a good part of which is used in Gold extraction.
If the lockdown drags on for a long period, this may cripple Gold production of major mines in the world, hence resulting to another spike in Gold price.
- From PeterSchiff:
To the extent that Bitcoin is actually taking any demand away from gold, that’s making Fed governors extremely happy. A rising #gold price is what central bankers fear most. #Bitcoin is their best friend, which may explain why regulators aren’t in a hurry to help pop the bubble.
- From maxkeiser:
My 2021 #Bitcoin target is $220,000 I’m lifting my short term target to $65,000 – Coinbase IPO Q1
– BTC supply gaps widen
– Hashrate heading to 275 EH/s
– Political chaos accelerating
– Money printing exploding
– Gold price suppression continues When @krakenfx IPO? 😀
In terms of news links for Gold here’s one to try:
Gold had a bullish start in 2019, rallying to a 10-month high in February amid worries about the U.S.-China trade war and bets the U.S. Federal Reserve may not raise interest rates this year….Photographer: Akio Kon/Bloomberg
, Bloomberg (Bloomberg) — Gold rose to an eight-week high aided by a weaker dollar and lower real rates, as investors awaited the outcome of elections in Georgia that will determine control of the Senate and President-elect Joe Biden’s agenda.