Gold (XAUUSD) Heads Up For the 4th Day In A Row; And A Link About Facebook

Gold Daily Price Recap

Gold came into today up 0.51% ($8.75) from the open of the previous day, marking the 4th day in a row it has gone up. Out of the 5 instruments in the metals asset class, Gold ended up ranking 4th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Gold.

Gold Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Gold’s price has gone up 7 of the previous 10 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From Lord_Snooty_III:

    @GlobalProTrader @RealDavidJensen @Mist671 @LawrenceLepard @jimeppelin @NedNL @BullionStar @POTUS @themarketear @Jkylebass @ronanmanly While central bank leasing of gold is available to the GLD custodian, then the continued purchasing of GLD shares will not have as big an impact on the gold price as it could since free-float gold is not being used to provide the supply.

  • From PeterSchiff:

    Today only a tiny minority of Americans own any monetary #gold. That’s because the nature of the current inflationary threat is not apparent. Five years from now, after that threat is obvious, the majority of American savers will own gold. That requires a much higher gold price.

  • From DocHodlday:

    @PeterSchiff Just talked to my jeweler about the gold price a few days ago. He wants it low! Told me people would stop buying it if it went to $3,000 and he’d stop making $.An increase in price ruins gold’s utility. With #Bitcoin it strengthens it! #dropgold

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

SMALL CAP MOVERS: Junior miners enjoy ride on higher gold price | This is Money

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