Gold Daily Price Recap
Gold entered today at $1877.5, up 0.84% ($15.64) from the day prior. Relative to other instruments in the metals asset class, Gold ranked 2nd since the day prior in terms of percentage price change. The daily price chart of Gold below illustrates.
Gold Technical Analysis
Also of note is that on the 14, 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 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 Wack4321:
I am completely amazed that Pfizer with thier vaccine, has Pfixed covid to the tune of 90% success rate yet gold price varies $115 overnight. They must have also pfixed the pfucked economics at the same time? Gold will bounce back with more gusto after this pfucking knee jerk.
- From InvResDynamics:
The PFE news was announced two hours before the the paper gold price was smashed on the Comex. The Spoos jumped at 4:15 a.m. gold remained unchanged from that point until just before the Comex floor opened. This is 100% market intervention in the paper gold market. @TFMetals
- From Ajay_Bagga:
“It’s unlikely that central banks will now return to rather normal monetary policy. If anything, it looks as if further easing is on the cards. We regard yesterday’s gold price slide more as a brief setback rather than the start of a prolonged phase of weakness” Commerzbank
As for a news story related to Gold getting some buzz:
Although consumer prices have so far seen muted inflation so far this year, LaForge said that it’s only a matter of time before the massive money supply shows up in the general economy….LaForge added that when inflation does show up in consumer markets, it will be too late, and that is when gold prices will start to surge.