Daily Gold News: Tuesday, Nov. 17 – Gold Going Sideways

The gold futures contract gained 0.08% on Monday, as it continued to trade within a 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 trading along yesterday’s closing price. What about the other precious metals? Silver gained 0.11% on Monday and today it is 0.1% lower. Platinum gained 3.52% and today it is 0.3% lower. Palladium gained 0.66% on Monday and today it’s 0.4% lower. So precious metals are mixed this morning .

Yesterday’s Empire State Manufacturing Index release has been worse than expected at 6.3. Today we will get the important […]

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