Daily Gold News: Thursday, Nov. 19 – Gold Bouncing Off $1,850Gold is 0.4% lower this morning, as it is trading along the bottom of the mentioned short-term consolidation.
The gold futures contract lost 0.59% on Wednesday, 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 0.4% lower this morning, as it is trading along the bottom of the mentioned short-term consolidation. What about the other precious metals? Silver lost 0.82% on Wednesday and today it is 1.3% lower. Platinum gained 1.47% and today it is 0.2% higher. Palladium gained 1.18% yesterday and today it’s 0.8% lower. So precious metals are generally lower this morning .
Yesterday’s Housing Starts and Building Permits releases have been mixed. Today we will get the Unemployment Claims and Philly Fed Manufacturing Index releases, among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Thursday, November 19
- 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index
- 8:30 a.m. Canada – ADP Non-Farm Employment Change
- 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales
- 10:00 a.m. Eurozone – ECB President Lagarde Speech
Friday, November 20
- 3:15 a.m. Eurozone – ECB President Lagarde Speech
- 8:30 a.m. U.S. – FOMC Member Kaplan Speech
- 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
For a look at all of today’s economic events, check out our economic calendar.
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