Gold (XAUUSD) Fares the Worst Out of metals, Moves Down For the 3rd Day In A Row; But Still in an Uptrend Over Past 14 Days

Gold Daily Price Recap

Gold is down 1.73% ($29.69995) since the previous day, marking the 3rd day in a row a decrease has occurred. On a relative basis, Gold was the worst performer out of all 5 of the assets in the metals asset class today. Here 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 up. For another vantage point, consider that Gold’s price has gone up 5 of the previous 10 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 paul_furber:

    @dls00741 It was also useful back in March when Soros tried to crash world markets by getting out of stocks and buying gold. A bunch of front companies sold him a whole lot of gold but the gold price didn’t do anything because the supply was from lead. He lost $100bn that morning.

  • From eeswardev:

    2. At current gold price, Gold LTV for the portfolio comes to 51% vs 75% as mandated by RBI. 3. Loan demand affected currently but that will come back once branches open – people need money in tough times 4. Portfolio quality might suffer for short term. Time will heal (2/2)

  • From favoredprisoner:

    @nic__carter Pricing in gold is an odd choice bc the real value of gold fluctuates a lot. You can see that by graphing gold price denominated in cows, real estate, corn, etc.There must be a more plausible metric you could use to make claims about the real value of stocks.

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

Gold price breaks $1,700; let it ride to $2,000 – Bank of America | Kitco News

Bank of America analysts noted that with gold prices having traded around $1,750, the market is up 15% for the year….A 41% rally like 2006 reaches $2,150.” While, Bank of America expects to see higher prices, the analysts said that it won’t be an easy road higher.