Daily Gold News: Gold Remains Close to $1,850 Price Level

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 .

Yesterday’s Unemployment Claims release has been worse than expected at 742,000. But the Philly Fed Manufacturing Index has been […]

Click here to view original web page at www.fxempire.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.