Daily Gold News: Friday, Nov. 12 – Gold Fluctuates Along the Mid-Week Local High

The gold futures contract gained 0.84% on Thursday, Nov. 11, as it remained close to the Wednesday’s local high of around $1,870. Last week the market broke above its late October local highs and the $1,800 level following better than expected monthly jobs data release. today the yellow metal is trading within a short-term consolidation, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is still trading above the $1,850 price level. What about the other precious metals? Silver is 0.6% lower, platinum is 0.6% lower and palladium is 0.3% lower. So precious metals’ prices are lower this morning.

Yesterday we didn’t get any new important economic data announcements. Today the market will be waiting for the UoM Consumer Sentiment number release at 10:00 a.m. and some fed-talk later in the day.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, November 12

• 10:00 a.m. U.S. – JOLTS Job Openings, Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
• 12:10 a.m. U.S. – FOMC Member Williams Speech
• Tentative, U.S. – Treasury Currency Report
• All Day, Eurozone – ECOFIN Meetings

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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