Gold (XAUUSD) Up $2.19 On 4 Hour Chart, Underperforms All metals; Moves Down For the 3rd Consecutive Day

Gold 4 Hour Price Update

Updated February 16, 2021 01:58 AM GMT (09:58 PM EST)

Gold entered the current 4 hour candle at $1818.18994, up 0.12% ($2.19) from the previous 4 hours. Out of the 5 instruments in the metals asset class, Gold ended up ranking 2nd for the four-hour candle in terms of price change relative to the previous 4 hours.

Gold Daily Price Recap

Gold came into today down 0.27% ($4.95) from the open of yesterday, marking the 3rd consecutive day a decline has happened. On a relative basis, Gold was the worst performer out of all 5 of the assets in the metals asset class today. 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 30 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Gold’s price has gone down 8 them.

Overheard on Twitter

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

  • From SluzCap:

    @LawrenceLepard There is a huge amount of bearishness on the gold price right now, but the negative sentiment towards gold equities is even greater. And, this negative sentiment is concurrent with what might be the best macro set up for gold I’ve seen in my career. Ultra bullish, in my opinion.

  • From GreenMo68245799:

    @kryptik_ta @jgharris7 @ahcastor @danheld The nice thing about #Bitcoin taking over Gold’s cap and store of value is that gold’s electrical properties may be fully appreciated and used in the (distant) future once Gold price is relegated to its utility in jewelry and electronics.

  • From sukmaikok:

    @PeterSchiff @nntaleb Schiff predictions since 09.09-
    Currency crisis,
    Hyperinflation,
    Dump US stocks(missed biggest bull run in US History),
    Stated FED would NEVER raise rates.11-
    Aug 2011 said gold price had no ceiling.12- called gold $5000Bitcoin to zero since $17.Collected fees.

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

Gold Price Today: Gold declines marginally; silver gains Rs 646 | Business News – India TV

Gold declines marginally; silver gains Rs 646 Gold prices declined marginally by Rs 19 to Rs 46,826 per 10 gram in the national capital on Monday in line with weak global cues and rupee appreciation, according to HDFC Securities….Firing between two gropus in Sitapur, Uttar Pradesh

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