Daily Gold News: Gold Fluctuates Following Monday’s Sell-off

The gold futures contract gained 1.19% on Tuesday, as it bounced after Monday’s 5% sell-off. Gold sold off following global financial markets’ euphoria rally after Covid-19 vaccine news release. The yellow metal has retraced all of its last week’s advance. It came back down to $1,850 price level , as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.4% lower this morning, as it continues to fluctuate following Monday’s drop. What about the other precious metals? Silver gained 3.21% on Tuesday and today it is 0.5% lower. Platinum gained 2.92% and today it is 0.8% lower. Palladium lost 1.11% on Tuesday and today it’s 0.1% lower. So precious metals are slightly lower this morning .

Yesterday’s German ZEW Economic Sentiment has been lower than expected. Today we won’t get any new important economic data releases. And the markets will wait for tomorrow’s U.S. CPI […]

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