Gold Daily Price Recap
Gold came into today down 0.38% ($7.19) from the open of yesterday, marking the 2nd consecutive day it has gone down. 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 yesterday. Here is a daily price chart of Gold.
Gold Technical Analysis
For another vantage point, consider that Gold’s price has gone up 9 of the previous 14 trading days.
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 SidhuMel:
@DebraG_Robins If analysts knew what they were talking about, all their followers would be #wealthy. #Gold price is actually unknowable, especially in the short term. In the long term it’s not possible to know the price.. but the direction it goes is more clear… Stay #Long, and hold Gold 🚀📈
- From MacroCRG:
In 2008 – 2011, the price of $GOLD fell 61% against the price of $SILVER. If this price action were to repeat, that means the $GOLD price in $SILVER will fall another 36%. It’s all just a guessing game – but I expect $SILVER to outperform $GOLD going forward.
- From DavidFi_:
I would have thought that Shelton’s non confirmation is the best news possible for the gold price. Now there will be no one at the Fed to rain on the printing parade. Let’s face it, the last thing holders of gold want is sounder fiat money.
In terms of news links for Gold here’s one to try:
Expectations for a weaker dollar also support a disconnect between gold prices and long-term rates, the team added….Goldman also expects demand for gold to strengthen across emerging markets.