Gold (XAUUSD) Down $11.79 On 4 Hour Chart, Started Today Down 0.63%; Price Base in Formation Over Past 14 and 90 Days

Gold Daily Price Recap

The back and forth price flow continues for Gold, which started today off at 1864.71 US dollars, down 0.63% ($11.79) from 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. Let’s take a look at the daily price chart of Gold.

XAUUSD

Gold Technical Analysis

Price action traders in particular will want to note that the 14 and 90 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From wisdomswindon:

    @SLowie100 @power_thompson don’t forget #CEY has zero debt so no pressure whatsoever on the balance sheet from temporary bad numbers. even using 1300 aisc & 1800-1850 gold price, the 9p annual dividend is fully covered by FCF.
    If chairman wants SP to rise (he just bought a chunk at 151p) he keeps 9p divi.

  • From iraDaisuke:

    @Nafisafishi What my brother told me gold price naik bila economic not stable. So bila ada vaccine ni so looking forward nnt stable balik hence price jatuh. That’s why normally usd naik (good economy) gold price turun if usd turun (economy unstable) gold price naik. Normally benchmark usd 😅

  • From DavidDeutschOxf:

    @james_barton Emergencies like wars and pandemics suddenly change the relationships between e.g. real wealth and its usual proxies. It’s surely a mistake to call this change a change in wealth.Would be even worse than calling inflation, or a change in the gold price, a change in wealth.

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

Gold price is in a new chart pattern and there is no telling how high it will go – Wells Fargo | Kitco News

Although consumer prices have so far seen muted inflation so far this year, LaForge said that it’s only a matter of time before the massive money supply shows up in the general economy….LaForge added that when inflation does show up in consumer markets, it will be too late, and that is when gold prices will start to surge.