Gold (XAUUSD) Up $0.9 in Last 4 Hours, Tops All metals; Started Today Up 0.12%

Gold Daily Price Recap

Gold entered today at $1903.05005, up 0.12% ($2.26) from the day prior. Gold outperformed all 5 assets in the metals asset class since the day prior. Below is a daily price chart of Gold.

XAUUSD

Gold Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Gold crossed above its 20 day moving average yesterday. 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. Or to view things another way, note that out of the past 10 days Gold’s price has gone up 6 them. Also, candlestick traders! Note we see doji pattern appearing here as well.

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 crushthemarket:

    @StanH2443 There’s a lot of that at the moment across most Gold stocks, pricing in the end of the Gold bull market. We are only $130 off the ATH’s in AUD Gold price, but many stocks are in bear markets. Like you said need to wait it out.

  • From MtBenJami:

    @JerichoJudson @zerohedge Thats not how supply and demand worksSupply rate only increases if it becomes more economical/easier to mine or the gold value makes it profitable to prioritise (its a resource trade off)Increasing rates of gold supply are driven by technology advances & increasing gold price

  • From bhavdip143:

    $MEG Megado Gold @megadogold Listing today As we saw last night Gold Price is highly resilient to go down in normal market corrections and It’s actually helping Gold priceBest time to list and Invest in Gold and Gold Assets IMO

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

Gold Price Forecast: XAUUSD Coils Ahead of Next Big Break

Last week saw Gold prices tease a bullish breakout….As looked at last week, Gold prices remain in a falling wedge pattern after the bullish breakout drove through the August open.