Gold (XAUUSD) Up $4.24 in Last 4 Hours, Tops All metals; Eyes 20 Day Average

Gold 4 Hour Price Update

Updated June 05, 2020 03:18 AM GMT (11:18 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. Those trading within the metals asset class should know that Gold was the worst performer in the class the current 4 hour candle.

Gold Daily Price Recap

1714 was the closing price of the day for Gold, resulting in today being one in which price moved up 0.93% ($15.85) from yesterday. Gold outperformed all 5 assets in the metals asset class since yesterday. Let’s take a look at the daily price chart of Gold.

Gold Technical Analysis

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. For additional context, note that price has gone up 5 out of the past 10 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 minestockwatch:

    @TheWealthMiner @SamsonLi7 @BlackAlex58 There in lies the problem with Tier 2 assets. They work when factors are ideal such as high gold price and FX benefits, but you need at least a 10-15 year mine in my view…these projects will take more than 5 years from here to complete if justified. Will watch with interest!

  • From BeingPatient1:

    Bemused at the selling in #HUM on those results.Cash inflow from ops was $44.7mln at avg gold price of $1,377/oz.Since then they sold 24.5k Oz at $1,568 in Q1.Annual cash flows at $1,700+ based on production guidance not far from covering current market cap!I hold.

  • From PopescuCo:

    @FabriceDrouin No question both Russia, China want an end to the gold price control by COMEX but I am not sure this official gold mining decision by both countries is for this reason but you have a good point in my puzzle.

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

Gold price today: Rs 46,845 per 10 gm; silver at Rs 48,295 per kg | Business Standard News

According to website, the price for 24-carat gold in New Delhi fell to Rs 46,650 from Rs 47,150 per 10 gram….Gold rate in Chennai is Rs 48,780 and Mumbai Rs 46,900.