Gold (XAUUSD) Up 1.01%; And A Link About Akshaya Tritiya

Gold Daily Price Recap

Gold is up 1.01% ($17.31008) since the previous day, marking the 3rd day in a row an upward move has occurred. 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 the previous day. Here is a daily price chart of Gold.

Gold Technical Analysis

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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 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 DavidLenigas:

    Greatland Gold set for its next rally leading up to next Newcrest Havieron update in the coming weeks IMHO. The buy on rumour sell on facts folk are out. The gold price is flying. My call is #GGP will now creep past all time high to 15. @GreatlandGold @priminvestments

  • From AimResearcher:

    Good news from #KEFI this morning. They’ve taken sensible steps to keep their capital expenditure down, so that they can soon reap the benefits of TKGP funding coming in H2, work beginning on site by Oct, and Saudi maiden JORC in H2. Gold price up, so long-term value solid.

  • From BrilliantLeader:

    #AAZ final results out this morning and are excellent. Final dividend increased by 12.5% and in this new “hunt for yield” world it is somewhat surprising to see the share price down by 7.5% – WTF! And with the gold price ~$200/oz higher in 2020 so far 🤷🏻‍♂️

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

Tanishq sees trend for lightweight jewels due to high gold price – Jewellery Outlook

During Akshaya Tritiya, we saw a few trends.Considering gold is a safe haven in these times, many customers purchased gold coins to perhaps redeem for jewellery later when stores reopen….Hence, we believe gold jewellery will continue to be popular, as long as there is not too much volatility in gold prices.