Daily Gold News: Gold Rebounding but Still Below $1,900

Daily Gold News: Gold Rebounding but Still Below $1,900

The gold futures contract lost 0.60% on Thursday, as it extended its short-term downtrend following breaking below $1,900 price level on Wednesday. In September the market was retracing a rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance. Then gold 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 0.4% higher this morning, as it is retracing some of yesterday’s decline. What about the other precious metals? Silver was unchanged on Thursday and today it is 0.8% higher. Platinum lost 2.91% and today it is 0.7% higher. Palladium lost 2.31% yesterday and today it is 0.1% lower. So precious metals’ prices are generally advancing this morning .

Yesterday’s GDP number release has been better than expected at +33.1% q/q. […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
  • 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!


No comments yet