Daily Gold News: Wednesday, Nov. 18 – Gold Closer to $1,850 Again

Daily Gold News: Wednesday, Nov. 18 – Gold Closer to $1,850 Again

The gold futures contract lost 0.14% on Tuesday, as it 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 0.4% lower this morning, as it continues to trade within the mentioned short-term consolidation. What about the other precious metals? Silver lost 0.61% on Tuesday and today it is 0.5% lower. Platinum gained 1.04% and today it is 0.5% lower. Palladium lost 0.79% yesterday and today it’s 0.4% higher. So precious metals are generally lower this morning .

Yesterday’s Retail Sales release has been slightly lower than expected at +0.3%. The Industrial Production number has been as […]

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