Daily Gold News: Monday, October 26 – Still Not Much Happening

The gold futures contract gained 0.03% on Friday, as it continued to trade within a consolidation following bouncing off $1,900 price level again. In September the market was retracing its 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 0.2% higher this morning, as it remains within a mentioned consolidation after bouncing off $1,900 level. What about the other precious metals? Silver lost 0.14% on Friday and today it is 1.3% lower. Platinum gained 2.57% and today it is 1.8% lower. Palladium gained 0.11% on Friday and today it is 0.8% lower. So precious metals are lower this morning , as they further extend their consolidation.

Friday’s U.S. Flash […]

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