Gold 4 Hour Price Update
Updated January 11, 2021 02:01 PM GMT (10:01 AM EST)
Gold is up 0.14% ($2.59) since the last 4 hour candle, marking the 2nd straight candle an upward move has occurred. 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 last 4 hour candle.
Gold Daily Price Recap
Gold’s 3 day negative streak has officially concluded, as the candle from yesterday closed down 0% ($0.05). Gold outperformed all 5 assets in the metals asset class since yesterday. Congrats to its holders! Let’s take a look at the daily price chart of Gold.
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 up. Or to view things another way, note that out of the past 14 days Gold’s price has gone up 8 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
Behold! Here are the top tweets related to Gold:
- From equitymrkt:
⭕️ Whn gold go down everybody rush to buy in & when it grows nobody wants to sellBut when quality stocks go down ppl dont care & when it raise people rush to buy higherThis shows people know the story behind gold price & donot know the story behind the stock price
- From CovWayne:
@GoingParabolic 😂 I’d go with it being manipulated / hoarded by central banks so no one really knows it’s true value. With Bitcoin no one has control or manipulates and the market sets the price. Look at the fines all banks have paid for manipulating gold price. Who do you trust.
- From petedivine:
@Dioclet54046121 @myprecious999 @goldsilver_pros @ArcadiaEconomic I think this is the “reset”. TPTB using the same playbook. Devalue fiat currencies against their Gold assets. The EBA is facing a bank crises and desperately needs to shore up banking reserves. NSFR allows the gold price to float wout derivatives. At least thats my interpretation
For a longer news piece related to XAUUSD that’s been generating discussion, check out:
“Right now, for the most part, rising Treasury yields provided a bid for the dollar, responsible for the selloff in gold,” said OANDA senior market analyst Edward Moya….Gold is seeing intense technical selling.” The gold space would see $100-moves in the next couple of days, added Moya, telling investors to pay attention to the U.S. dollar….When you look at gold’s positioning, you see a diversification away from gold into cryptos.” Bitcoin is seeing new investors on the flight to safety argument, said Walsh Trading co-director Sean Lusk….What happens when the gold price drops below $1,800?…The big line in the sand for next week will be the $1,770 level — which was the November low, said Moya.