Gold (XAUUSD) Up $15.73 Over Past 4 Hours, And A Story About Silver; Breaks Above 20 Day Average

Gold Daily Price Recap

Gold closed yesterday up 0.93% ($18); this denotes the 2nd consecutive day an increase has occurred. Relative to other instruments in the metals asset class, Gold ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Gold.

XAUUSD

Gold Technical Analysis

Notably, Gold crossed above its 20 day moving average yesterday. Volatility for Gold has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From BigBiteNow:

    #SRB already looking like its going to be a strong Q3 gold price wise.Another 8,500 oz quarter with a build up to +10k oz in Q4 and I’ll be calling 73m share all in for 85k oz production in 2022.If so, then the SP has a long way to go.

  • From GoldTelegraph_:

    I don’t ever get into politics, however, due to the overwhelming amount of questions on how politics will affect the gold price post-November.My answer: it does not matter. The USA deficit will continue to spiral out of control and more countries will look to avoid the USD.

  • From AfzalValli:

    #WSBNFULLY FUNDED DRILL PROGRAM 1 – Wishbone II (High grade gold)
    2 – White Mountain High grade Gold Copper SilverFunded with £700k further £300k 2 follow warrantsWe intend to hit exploration hard and take advantage of the elevated gold price and our excellent gold assets

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

Gold price today at Rs 54,310 per 10 gm, silver slides to Rs 68,000 a kg | Business Standard News

TopicsGold  | Silver Prices | Gold Price

BS Web Team  | 
New Delhi 
Last Updated at September 9, 2020 07:10 IST
https://mybs.in/2YQGNMQ
Gold prices today jumped to 54,310 from Rs 54,160 per 10 gm, while silver slid to Rs 68,000 from Rs 68,100 per kg, according to the Good Returns website….ALSO READ: Gold subdued on strong dollar; European Central Bank meeting in focus
Silver also gained Rs 340 to Rs 69,665 per kg, from Rs 69,325 per kg in the previous trade.