Gold (XAUUSD) Up $18.17 On 4 Hour Chart, And A Story About Price Takers; Tops All metals

Gold Daily Price Recap

Gold closed yesterday up 0.97% ($18.17); this denotes the 5th day in a row an upward move has occurred. Gold outperformed all 5 assets in the metals asset class since yesterday. Congrats to its holders! The daily price chart of Gold below illustrates.


Gold Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Gold’s price has gone up 11 of the previous 14 trading 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 Christophe_Qld:

    Atm with the gold price flying high and possibly expected to go to $2000 I’m buying any goldie with a decent resource. $LCL 1.3m ounces JORC. $GRL 1.45m ounces AuEq. Out of $TTM for now and missed $POD. But both with similar resource sizes have bagged. Top two will catch up imo.

  • From WWgo1wgA:

    @kristen22835368 @SantaSurfing Call it Nesara, Gesara or Trumpsara. Bottom line is that gold will revalue to its true value. The dollars floating out there has to equate to gold bringing gold price up many times over. This is why Pimpy and Santa keeps pointing out the Debt Clock dollar to gold value.

  • From PeterSchiff:

    The fact that gold stocks are selling off with the stock market despite a rising #gold price and falling dollar shows that even gold stock investors don’t understand what’s happening, let alone what’s about to happen. A great indicator that this gold bull has a long way to run.

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

Financial Repression Promises Liberation for the Gold Price – Bloomberg

Equities might offer a haven from financial repression, but there’s one asset that rises inexorably with lower real yields….Meanwhile, the dominant internet groups in the NYSE Fang+ index reversed recent declines to hit a new all-time high: As has been said many times, it seems extraordinary for the world’s largest stock market to be showing a profit for a year in which so many bad things have happened, and remain unresolved….Corporate dividend yields may indeed be more generous than the yields on government bonds these days — but there is a still a risk that companies won’t be able to pay those dividends (or even repay the principal on debt): Overall, and most sobering, the IIF’s count shows debt hit an all-time high by the end of the first quarter, before the splurge of corporate issuance and government spending to cushion the impact of the pandemic….It therefore becomes far more attractive when the real yield on alternative investments becomes negative — and as this chart, with an inverted gold price, shows, lower real yields lead inexorably to higher gold prices: There are other ways to show that gold should benefit from the current extraordinary monetary conditions….More debt would mean a higher gold price.  The stock rally at present still doesn’t show great confidence in an economic recovery, but the bond market does suggest high confidence in financial repression for a long time into the future.