Gold Daily Price Recap
The choppiness in the recent daily price action of Gold continues; to start today, it came in at a price of 1912.57 US dollars, down 1.9% ($37.12) since the day prior. Gold outperformed all 5 assets in the metals asset class since the day prior. Congrats to its holders! Here is a daily price chart of Gold.
Gold Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Gold crossed below its 20 and 50 day moving averages yesterday. 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 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Gold’s price has gone up 6 of the previous 10 trading 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 imapedestrian:
@stealthebasis @crescatkevin @DrCodyF Gold. Fed will allow/guide gold price to $5000/$10000 plus. Commodities will follow, including labor. Mkts will be very volatile but probably follow too. Tech & other bubble areas might lag…just a scenario. Plus lots of good innovations about to break. All is not lost😉.
- From MacleodFinance:
It looks like something is in the works for commercial banks. They are weak across the board, suggesting there are systemic issues.Separately, it will be interesting to see if the bullion banks get back their short gold positions on the 3% fall in the gold price
- From DTgirl3:
$SBR $SBRO waiting with bated breath for the aeromag results for Bonanza mine. I am neck deep in Oppies. Bonanza is right next to the Penny west mines which is one of the highest-grade undeveloped gold assets in WA. Gold price at $1951 usd. #asxgold
For a longer news piece related to XAUUSD that’s been generating discussion, check out:
This provides users with a highly reliable and manipulation resistant gold price within our innovative new gold intel hub….Chainlink’s XAU/USD Price Reference feed is powered by a decentralized oracle network that consists of numerous independent, Sybil resistant nodes that collectively source the gold price from multiple trusted data sources….Creator of Bullionix, Jesse Johnson, expressed his excitement for the integration, stating “By integrating with Chainlink, we were able to bring more transparency and decentralization to the tracking of our gold-backed NFTs and make our gold markets hub incredibly compelling.” The new gold hub for Bullionix users includes a number of unique features that take advantage of the incoming price feeds.