Gold 4 Hour Price Update
Updated November 27, 2020 01:57 AM GMT (09:57 PM EST)
Gold’s 3 four-hour candle negative streak has officially concluded, as the candle from the previous 4 hours closed up 0.22% ($4.05). Relative to other instruments in the metals asset class, Gold ranked 4th since the previous 4 hours in terms of percentage price change.
Gold Daily Price Recap
The end of a 3 day negative run has come for Gold, which finished yesterday up 0.29% ($5.27). Relative to other instruments in the metals asset class, Gold ranked 4th since yesterday in terms of percentage price change. Here is a daily price chart of Gold.
Gold Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. 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
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Gold for the past day were:
- From Pustayo2:
@KumovaTolga @TheGladiatorHC @stokdog Agreed, I’ve literally just been buying this gold dip like crazy because the economics for a high gold price stack up. No jobs, low to negative interest rates, lock ins, quantitative easing, inflation around the corner, negative yield debt at all times high, global debt 435% gdp
- From MarkWel79189014:
@Juanok8000 @QuadrantCapital @zerohedge It does cause inflation vis JPY/Gold price, but so has everyone elses currency vs gold, so its not noticeable when all others are debasing too.Real issues is economic stagnation. Japanese economy since 1990 has recorded average annual real growth of 0.8%This is a big problem
- From StuOnGold:
Amateur investors need to understand, significant #Gold price rallies only begin when professional investors are 100% sure that price is going lower. The difference between the amateur & pro is the ability of the pro to bet against themselves. ~ Stewart Thomson – Graceland
In terms of news links for Gold here’s one to try:
Hints as to this possible expansion of the Fed’s current QE programme to the purchase of longer-dated maturity bonds might come on in the FOMC minutes set to be released on Wednesday evening at 19:00GMT; the minutes likely do not give the most up-to-date reflection of Fed thinking on the economy and its near-term outlook, given the recent emergence of vaccine hopes that are expected to support the economy over the coming month by taking the edge off pandemic uncertainty (i.e. businesses able to start thinking long-term again with an end to the pandemic in sight)….Tweaks to the Fed’s current QE programme have by no means been taken off the table, though a number of FOMC members have expressed contentment with where Fed policy is right now….Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress….Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.