Gold (XAUUSD) Up $0.19 in Last 4 Hours, And A Story About World Events; in an Uptrend Over Past 14 Days

Gold 4 Hour Price Update

Updated December 30, 2020 01:58 AM GMT (09:58 PM EST)

The back and forth price flow continues for Gold, which started the current 4 hour candle off at 1878.05005 US dollars, up 0.01% ($0.19) from the last 4 hour candle. Out of the 5 instruments in the metals asset class, Gold ended up ranking 3rd for the four-hour candle in terms of price change relative to the last 4 hour candle.

Gold Daily Price Recap

The choppiness in the recent daily price action of Gold continues; to start today, it came in at a price of 1877.99182 US dollars, up 0.36% ($6.8) since yesterday. Out of the 5 instruments in the metals asset class, Gold ended up ranking 2nd for the day in terms of price change relative to yesterday. The daily price chart of Gold below illustrates.

XAUUSD

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 7 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From Joutein:

    @DharPrabin @ayewaken @coinbase It’s called shorting. Basically you lend things you think is overvalued, sell right away and buy back in later. Difference is your profit. I.e. You borrow a Gold bar and sell it for 2000 then the Gold price drops to 1000 so you buy it back at 1000 and give it back. 1000 profit

  • From YananXAUUSD:

    Looking at the 4-hour trend of gold, the pressure is around 1890. The gold price area in the Asian market is in a narrow range, and the bottom support is around 1868 It is further waiting for the start of the European market! Need trading signals welcome to consult #XAUUSD #Dubai

  • From DavidFi_:

    Newgold shows huge progress in turning around Rainy River. As operating doubts subside and investors seek max leverage to a rising gold price it ends the year as the best performer in the GDX.
    – A hit, a palpable hit! NG +140%, best in GDX.

For a longer news piece related to XAUUSD that’s been generating discussion, check out:

Gold Price 2021 Forecast: Continuation Advance Ahead | Gold Eagle

As precious metals investors, it can sometimes be difficult to tell whether major world events are positive or negative for the prices of gold and silver….However, a repeating pattern is now playing out in the gold market – a pattern which also appeared once before, nearly 10 years ago – which suggests that recent world events will be highly supportive for gold prices in the future….Let us examine these world events and then turn to our expectations for gold prices in 2021 and beyond.