Gold (XAUUSD) Up $4.24 Over Past 4 Hours, Entered Today Up 0.45%; Eyes 20 Day Average

Gold 4 Hour Price Update

Updated June 01, 2020 11:18 PM GMT (07:18 PM EST)

Gold came into the current 4 hour candle up 0.24% ($4.24) from the open of the previous 4 hours, marking the 2nd candle in a row an upward move has occurred. On a relative basis, Gold was the worst performer out of all 5 of the assets in the metals asset class the current 4 hour candle.

Gold Daily Price Recap

Gold closed yesterday up 0.45% ($7.8); this denotes the 2nd day in a row it has gone up. Relative to other instruments in the metals asset class, Gold ranked 4th since yesterday in terms of percentage price change. The daily price chart of Gold below illustrates.

Gold Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 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 PranArora9:

    Just a statistic:
    India gold loan business has gone up by 9 times in last 10 years – which overlaps with gold price increase between 2006 to 2012 & economic crisis of 2008/9 .Can we infer that gold loan business goes up when gold prices go up and when there is economic crisis ?

  • From GrantMBeasley:

    Canadian sell side so stupid. They see gold price go up & then chase higher. BMO long term now $1400. They do a big call about it Friday LMFAO. Such shit for brains scaredy cats. I give BoA credit. They went to $3,000. If you’re going to make a call, MAKE A CALL.

  • From mijnamo:

    @aus_econ @lisazdavies @smh That decision was driven by Peter Costello . The man who the LNP claim as Australia’s greatest treasurer . Poor old Pete is prone to such blunders . When the gold price was $306 an ounce he sold two thirds of Australia’s reserves. Today’s price is over $1,700 an ounce