Gold (XAUUSD) Down $1.62 in Last 4 Hours; Started Today Down 0.33%

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.

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 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 Rises to Eight-Week High as Traders Await Georgia Results – BNN Bloomberg

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.