Gold Daily Price Recap
Gold entered today at $1946.15002, down 0.67% ($13.17) 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. Here is a daily price chart of Gold.
Gold Technical Analysis
Volatility for Gold has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 30 days Gold’s price has gone up 15 them.
Overheard on Twitter
Behold! Here are the top tweets related to Gold:
- From stage274:
@CryptoElon_Musk @KingJimmyC @JunkoSu22993224 @flipsidecrypto Look I have one thing to say, don’t let Au an Ag get away from you. Gold and Ag in a few years will be the hardest asset to attain.The value at 2k is a steal of a century. The true gold price should be 25k right now. It’s manipulated. But not for long when comex can’t deliver.
- From daretocontraire:
@wmiddelkoop @TFMetals Gold price suppression is a national security issue. Rising gold exposes abject policy failure & currency collapse well underway. This flunky will get a wrist slap & the spoofing will continue uninterrupted, until the entire charade collapses, then gold price goes up all at once.
- From gauravsabnis:
Gold price has really taken off since covid hit. Which is very helpful for my teaching. Because I use gold as a case study of sorts to explain many concepts of social networks, social contagion, social contracts to my Social Media Analytics class.
As for a news story related to Gold getting some buzz:
(Kitco News) Despite gold’s massive rally over the past year, gold mining stocks remain undervalued, said VanEck. “Since gold broke out on June 20, 2019 into its current trend, the gold price has gained 45% and the NYSE Gold Miners Index 79%….With higher gold prices, why are the gold stocks still not overvalued?