Gold price seeing modest rise off its lows after disappointing data from New York Fed

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

( Kitco News ) – The gold market remains under pressure but is slowly creeping higher as disappointing economic news from the New York Federal Reserve works counters growing investor optimism regarding a potential vaccine for the COVID-19 virus.

Monday, the New York Federal Reserve said its Empire State manufacturing survey’s general business conditions index fell to a reading of 6.3 in November, down significantly from October’s reading of 10.5. The data was worse than expected as consensus forecasts were calling for a rise to 13.8. December gold futures last traded at $1,883 an ounce, down 0.17% on the day.

The latest economic data is helping gold prices recover from an early morning selloff after Moderna announced news of […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet