Daily Gold News: Monday, Nov. 22 – Gold Trades Below the Recent Local Lows

The gold futures contract lost 0.53% on Friday, as it extended its short-term consolidation following the recent advances. The market remained above the $1,850 price level despite strengthening U.S. dollar recently. But today the yellow metal is trading slightly below that level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.3% lower this morning, as it is trading below its recent local lows. What about the other precious metals? Silver is 0.4% higher, platinum is 0.6% higher and palladium is 0.6% lower. So precious metals’ prices are mixed this morning.

Today we won’t get any new important economic data releases. The markets will be waiting for series of economic data releases on Wednesday, including the Core PCE Price Index, Preliminary GDP number and the FOMC Meeting Minutes.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, November 22

• All Day, Japan – Bank Holiday

Tuesday, November 23

• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. – Richmond Manufacturing Index

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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