Daily Gold News: Tuesday, Nov. 30 – Gold Price Still Going Sideways

The gold futures contract lost 0.02% on Monday, as it continued to fluctuate following the recent declines and a breakdown below the $1,800 level. The market sold off in a reaction to strengthening U.S. dollar and volatile stock prices, among other factors. This morning gold is further extending its short-term consolidation. The yellow metal continues to trade along $1,800 level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.4% higher this morning, as it trading slighlty below the $1,800 price level. What about the other precious metals? Silver is 0.3% lower, platinum is 1.6% lower and palladium is 2.0% lower. So precious metals’ prices are mixed this morning.

Yesterday’s Pending Home Sales release has been higher than expected at +7.5%. Today we will get the Chicago PMI, CB Consumer Confidence releases and a testimony from the Fed Chair Powell, among others.

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

Tuesday, November 30

• 8:30 a.m. Canada – GDP m/m
• 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
• 9:45 a.m. U.S. – Chicago PMI
• 10:00 a.m. U.S. – Fed Chair Powell Testimony, CB Consumer Confidence, Treasury Secretary Yellen Speech
• 10:30 a.m. U.S. – FOMC Member Williams Speech
• 1:00 p.m. U.S. – FOMC Member Clarida Speech
• 7:30 p.m. Australia – GDP q/q
• Tentative, Japan – BOJ Governor Kuroda Speech

Wednesday, December 1

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change
• 9:00 a.m. U.K. – BOE Governor Bailey Speech
• 9:45 a.m. U.S. – Final Manufacturing PMI
• 10:00 a.m. U.S. – Fed Chair Powell Testimony, ISM Manufacturing PMI, Treasury Secretary Yellen Speech, Construction Spending m/m, ISM Manufacturing Prices
• 2:00 p.m. U.S. – Beige Book

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

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

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