Gold Daily Price Recap
The end of a 9 day positive run has come for Gold, which finished yesterday down 0.57% ($11.2). Relative to other instruments in the metals asset class, Gold ranked 2nd since yesterday in terms of percentage price change. Below is a daily price chart of Gold.
Gold Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Gold’s price has gone up 22 of the previous 30 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Gold:
- From BlackAlex58:
@CapitulationINC @GrantMBeasley @thomasg_grizzle @LamboJohnny @Wealth_Theory @RampCapitalLLC @KushMansPicks @AllStreetsWolf @TITAN_TradingCA @Kurtis_Di @BigBirdofBayst Australia is in the same boat. Sold most of their gold (167 tonnes) in 1997 for $330 / oz.
The reason at the time “it would be optimistic to expect sizeable increases in the gold price in the near term”
We all know how well that sale has worked out!
- From RameshKisani:
@aajtak @INCIndia Those who are questioning the increase in price of Rafale planes paid by Modi Govt. Must be knowing well that 6 months back, Gold price in intl mkt was $1200 per ounce, silver was @ $12, today Gold is near $2000 per ounce n Silver is @ $24/-
- From dhruvrawani:
@AdityaD_Shah @AnishA_Moonka @adi2five It can have a knee jerk reaction..but the real tracker should be the US dollar, the more money printing happens, the more dollar devalues and more it works better for gold. A higher gold price only tells you one thing..how much your greenback has lost its value
As for a news story related to Gold getting some buzz:
But the jump in gold prices is highly unusual because stock prices have also surged recently after dropping in early March as coronavirus began to spread in the U.S. Gold is usually seen as a safe haven when stocks are falling or when inflation is rising….The latest increase in gold prices also came as diplomatic tensions between the U.S. and China are rising….Buffett has called investors who buy gold when the price is rising, even during times of uncertainty, “foolish.” The Associated Press contributed to this report.