The gold futures contract gained 0.95% on Tuesday, as it retraced some more of its recent declines after bouncing from $1,860 price level. Gold continues to fluctuate following September’s decline off August 7 record high at $2,089.20 to around $1,850. The yellow metal has been bouncing 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 0.1% lower this morning. However, we can see a relatively large daily trading range today. What about the other precious metals? Silver gained 1.25% on Tuesday and today it is 0.7% lower. Platinum gained 1.80% and today it is unchanged. Palladium gained 3.49% yesterday and today it’s 0.2% lower. So precious metals’ price changes are mixed this morning .
Yesterday’s Factory Orders release has been slightly better than expected at +1.1%. But the markets were […]
November 5, 2020 Published by StockMan