Daily Gold News: Gold Higher as Election Uncertainty Persists

Daily Gold News: Gold Higher as Election Uncertainty Persists

The gold futures contract lost 0.74% on Wednesday, as it fluctuated following the U.S. Presidential Election uncertainty. Gold continues to trade within a consolidation after September’s decline from August 7 record high at $2,089.20 to local low of around $1,850. Recently the yellow metal has bounced from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.9% higher this morning, as it retraces yesterday’s decline following weakening U.S. dollar. What about the other precious metals? Silver lost 1.81% on Wednesday and today it is 2.8% higher. Platinum lost 0.56% and today it is 1.5% higher. Palladium gained 0.43% yesterday and today it’s 3.2% higher. So precious metals are advancing this morning .

Yesterday’s ADP Non-Farm Employment Change release has been worse than expected at only +365,000. The ISM Services PMI number […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet