Gold (XAUUSD) Up $18.17 in Last 4 Hours, And A Link About Eugen Weinberg; Entered Today Up 0.75%

Gold 4 Hour Price Update

Updated July 27, 2020 12:59 AM GMT (08:59 PM EST)

Gold is up 0.97% ($18.17) since the last 4 hour candle, marking the 5th candle in a row an increase has occurred. Gold outperformed all 5 assets in the metals asset class since the last 4 hour candle.

Gold Daily Price Recap

Gold closed the day prior up 0.75% ($14.11); this denotes the 6th day in a row it has gone up. Relative to other instruments in the metals asset class, Gold ranked 3rd since the day prior in terms of percentage price change. Here is a daily price chart of Gold.

Gold Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Gold’s price has gone up 9 them.

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 StockMktUpdate:
  

  @LawrenceLepard COMEX future is in trouble of default if they cant matc equivalent of physical gold delivery. 170 Tons is still way short of required COMEX coverage guarantee. Expect COMEX force majeure settlement in Cash in August that would push the physical gold price higher. So not over yet

• From dannydiekroeger:
  

  Both the DXY index and the Gold price are indicating declined confidence in the dollar globallyThis is a clear warning that we all need to pay attention toIf these trends continue, we are likely to start seeing inflation in the price of goods

• From dannydiekroeger:
  

  Right now confidence in the dollar is still pretty high, but the DXY index and the Gold price are showing that confidence is decreasingIf this trend continues, and you see money velocity reverse and start to increase – watch out

In terms of news links for Gold here’s one to try:

The gold price is a runaway freight train, so look for higher levels next week | Kitco News

The latest Kitco News weekly gold survey, shows that both Wall Street analysts and Main Street investors are expecting gold prices to continue to push higher even as the market sees seven weeks of consecutive gains….VS Both Wall Street and Main Street were expecting to see gold push higher for the current trading week and they have not been disappointed….Looking at the market’s momentum, Eugen Weinberg, head of market research at Commerzbank, said that he would not be surprised if gold prices pushed to $2,000 an ounce by the end of next week.

 

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