Gold (XAUUSD) Up $5.44 On 4 Hour Chart, Underperforms All metals; Entered Today Down 1.57%

Gold 4 Hour Price Update

Updated January 07, 2021 01:58 AM GMT (09:58 PM EST)

Gold closed the last 4 hour candle up 0.28% ($5.44); this denotes the 2nd candle in a row it has gone up. Relative to other instruments in the metals asset class, Gold ranked 2nd since the last 4 hour candle in terms of percentage price change.

Gold Daily Price Recap

Gold is down 1.57% ($30.54) since yesterday, marking a reversal from the day prior — and the end of a 6 day positive run. On a relative basis, Gold was the worst performer out of all 5 of the assets in the metals asset class today. Below is a daily price chart of Gold.

XAUUSD

Gold Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Gold:

  • From Orwellforesawi1:

    @JulieWa95599900 @CromwellStuff @RishiSunak Indeed. Back in the 30’s the U.S. govt passed a law requiring people to sell their gold to them at 20 dollars/ounce. Then put up the gold price to 30 & same time devalued the dollar. It was State theft! I can see similar here maybe to do with property!?

  • From JeschildTan:

    @Coizy_ @woonomic @DrIacob I thought Peter Schiff and the likes had called for $10k gold price since 10 years ago? 5 years ago, I bought gold based on such “predictions” by Schiff, Rickards, etc. I was glad I took decisive responsibility for my own wealth and went down the #Bitcoin rabbit hole.

  • From PeterSchiff:

    To the extent that Bitcoin is actually taking any demand away from gold, that’s making Fed governors extremely happy. A rising #gold price is what central bankers fear most. #Bitcoin is their best friend, which may explain why regulators aren’t in a hurry to help pop the bubble.

For a longer news piece related to XAUUSD that’s been generating discussion, check out:

Gold Rises to Eight-Week High as Traders Await Georgia Results – BNN Bloomberg

Gold had a bullish start in 2019, rallying to a 10-month high in February amid worries about the U.S.-China trade war and bets the U.S. Federal Reserve may not raise interest rates this year….Photographer: Akio Kon/Bloomberg
, Bloomberg (Bloomberg) — Gold rose to an eight-week high aided by a weaker dollar and lower real rates, as investors awaited the outcome of elections in Georgia that will determine control of the Senate and President-elect Joe Biden’s agenda.