Gold (XAUUSD) Up $2.88 On 4 Hour Chart, 6 Day Down Streak Broken; in a Downtrend Over Past 14 Days

Gold 4 Hour Price Update

Updated February 22, 2021 01:59 AM GMT (09:59 PM EST)

The choppiness in the recent four-hour candle price action of Gold continues; to start the current 4 hour candle, it came in at a price of 1783.42004 US dollars, up 0.16% ($2.88) since the previous 4 hours. Out of the 5 instruments in the metals asset class, Gold ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.

Gold Daily Price Recap

Gold’s 6 day negative streak has officially concluded, as the candle from yesterday closed up 0.38% ($6.82). Out of the 5 instruments in the metals asset class, Gold ended up ranking 4th 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

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For another vantage point, consider that Gold’s price has gone down 9 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From EtherOverlords:

    @PeterSchiff @cryptoscontent @elonmusk If paper is so good then why are you buying gold as a hedge against it? In fact $1 from ten years ago is $1 today. Gold price is less than it was 10 years ago. So you have a hedge against the USD collapse but the hedge is worth less 10years on than it was 😆

  • From josef_moser:

    @spignal As a developer I am on the Internet a lot. But this is probably the dumbest thing I read on here all week.If the US, Germany, France, Italy, and China decided to sell all of their gold (approx. 10% of global supply), what would you expect to happen? A gold price crash, exactly.

  • From marcvanderchijs:

    Imagine where the Gold price would have been without Bitcoin (at least $3000?). So much money is flowing into BTC instead of into Gold (or out of Gold into BTC). No wonder Gold bugs are so negative about BTC. They don’t want this change, their wealth or business depends on it.

For a longer news piece related to XAUUSD that’s been generating discussion, check out:

The Gold Price War LIVE Debate – Goko Group

LIVE Virtual Event ONLINE EVENTYou will be sent an email with the access link after you register!…Thursday, February 25th 11am AEDT (Sydney) Wednesday, February 24th 7pm EST (New York) Time left until registration closes: Harry Dent and James Rickards are gearing up to meet face to face in a live debate to discuss in depth the future of gold and how to make more informed investment decisions in 2021 and beyond….I’m expecting gold to go up…to $2,200 an ounce and then crash back down to its 2015 lows, around $1,000.”Dent also argues that gold has no currency value.