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 1905.04907 US dollars, up 1.04% ($19.61) since yesterday. Relative to other instruments in the metals asset class, Gold ranked 2nd since yesterday in terms of percentage price change. Below is a 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 down. For another vantage point, consider that Gold’s price has gone up 15 of the previous 30 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Gold:
- From tuurcrypto:
@AdamScochran I do not like BitMex. But the US is always acting like the policeman of the world. Just on day ago JP morgan settled for a spoofing case. So a big US bank was spoofing the gold price over the whole world for 10 years…and did a lot off money laundering..still open for business..
- From ibnKhalid_:
I bought my new nephew a little gold coin thinking when he’s 18, he can sell it and go on a full on halal lads holidayBut at this rate with the way gold price is going, he’s gonna just about be able to do a weekend trip to Scunthorpe
- From prathgodbole:
Long term bonds are a bad idea- high duration means you take a big hit when yields eventually rise few years down. For India, Sov. Gold bonds are not a bad option at all- gold price+ 2.5% is damn good.Even Blue chip dividend paying stocks would be better.
As for a news story related to Gold getting some buzz:
Be informed of the market’s most important moves when you read the Investor Alert….The last time the precious metal was this oversold, in mid-March, gold fell below not just its 50-day moving average but also its 200-day average….In other words, the price of gold needs to change by 10 percent to record a move of one standard deviation….click to enlarge Gold and silver are in “golden times” right now, according to Wheaton Precious Metals’ president and CEO Randy Smallwood during an online Denver Gold event last week….The risk of concentrating investments in this group of industries will make the fund more susceptible to risk in these industries than funds which do not concentrate their investments in an industry and may make the fund’s performance more volatile….Stock markets can be volatile and share prices can fluctuate in response to sector-related and other risks as described in the fund prospectus.