Gold (XAUUSD) Up $0.72 Over Past 4 Hours, Tops All metals; in an Uptrend Over Past 90 Days

Gold Daily Price Recap

1931.44995 was the closing price of the day for Gold, resulting in today being one in which price moved up 0.04% ($0.72) from yesterday. Gold outperformed all 5 assets in the metals asset class since yesterday. Congrats to its holders! Let’s take a look at the daily price chart of Gold.

XAUUSD

Gold Technical Analysis

Volatility for Gold has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For another vantage point, consider that Gold’s price has gone up 7 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From HouwelenHenkie:

    Fortune Bay $FOR.V
    – Two projects:
    1. Goldfields 1.5 g/t open pit in Saskatchewan, with
    – 1M P+P , 1M M+I, 0.2M INF.
    – PFS 2011 based on C$1,250.
    – Current gold price NPV 980M, IRR 76%.
    2. Ixhuatan, Mexico 1.7M M+I resources.
    3. Sum $4M Au oz resources.
    4. MCAP $7/oz.

  • From GoldTelegraph_:

    I don’t ever get into politics, however, due to the overwhelming amount of questions on how politics will affect the gold price post-November.My answer: it does not matter. The USA deficit will continue to spiral out of control and more countries will look to avoid the USD.

  • From AfzalValli:

    #WSBNFULLY FUNDED DRILL PROGRAM 1 – Wishbone II (High grade gold)
    2 – White Mountain High grade Gold Copper SilverFunded with £700k further £300k 2 follow warrantsWe intend to hit exploration hard and take advantage of the elevated gold price and our excellent gold assets

As for a news story related to Gold getting some buzz:

Gold Price Forecast: XAU Bounces From Support, Gold Bulls on Return?

Note: Low and High figures are for the trading day.