Gold (XAUUSD) Down $9.91 Over Past 4 Hours, And A Story About Gold Prices; 3 Day Up Streak Ended

Gold 4 Hour Price Update

Updated November 18, 2020 08:18 AM GMT (04:18 AM EST)

The end of a 3 four-hour candle positive run has come for Gold, which finished the last 4 hour candle down 0.52% ($9.91). Relative to other instruments in the metals asset class, Gold ranked 3rd since the last 4 hour candle in terms of percentage price change.

Gold Daily Price Recap

Gold’s 3 day positive streak has officially concluded, as the candle from yesterday closed down 0.52% ($9.91). 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.

XAUUSD

Gold Technical Analysis

Or to view things another way, note that out of the past 30 days Gold’s price has gone up 19 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Gold:

  • From Eagleresa:

    @TonTon98796526 @stokdog @KumovaTolga @great_martis #usd has been propped up – at least 1 year overdue for a fall – infers could get stronger #aud offsetting some of the #gold price rise in US$/oz – fortunately gold stocks focus more on US$ gold than A$ gold – with a reality profit check when the financials & divs are reported.

  • 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.

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

Gold will soar 22% next year as investors protect against rising inflation, Goldman Sachs says

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.