The gold futures contract gained 0.67% on Monday, as it retraced 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 0.2% higher this morning, as it is further extending its short-term advance. What about the other precious metals? Silver gained 1.64% on Monday and today it is 0.5% higher. Platinum gained 1.31% and today it is 1.9% higher. Palladium gained 0.14% yesterday and today it’s 2.2% lower. So precious metals are advancing this morning .
Yesterday’s ISM Manufacturing PMI number release has been better than expected. This week, the markets will await the U.S. Presidential Election’s […]
November 3, 2020 Published by StockMan