The gold futures contract lost 0.66% on Thursday, as it further extended its short-term consolidation following last week’s Monday’s 5% sell-off. Gold sold off after global financial markets’ euphoria rally in reaction to Covid-19 Pfizer’s vaccine news release. The yellow metal has retraced all of its previous 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 0.1% lower this morning, as it is trading along the bottom of a short-term consolidation. What about the other precious metals? Silver lost 1.64% on Thursday and today it is 0.4% higher. Platinum gained 0.06% and today it is 0.5% higher. Palladium lost 1.45% yesterday and today it’s 0.3% higher. So precious metals are mixed this morning .
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November 21, 2020 (updated November 21, 2020) Published by StockMan