Daily Gold News: Wednesday, Nov. 18 – Gold Closer to $1,850 Again

Paul Rejczak
Published: Nov 18, 2020, 13:23 GMT+00:00

Gold is 0.4% lower this morning, as it continues to trade within the mentioned short-term consolidation.

Daily Gold News: Wednesday, Nov. 18 – Gold Closer to $1,850 Again

In this article:

The gold futures contract lost 0.14% on Tuesday, as it extended its 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 continues to trade within the mentioned short-term consolidation. What about the other precious metals? Silver lost 0.61% on Tuesday and today it is 0.5% lower. Platinum gained 1.04% and today it is 0.5% lower. Palladium lost 0.79% yesterday and today it’s 0.4% higher. So precious metals are generally lower this morning .

Yesterday’s Retail Sales release has been slightly lower than expected at +0.3%. The Industrial Production number has been as expected at +1.1%. Today we will get Housing Starts and Building Permits releases at 8:30 a.m.

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

Wednesday, November 18

  • 8:30 a.m. U.S. – Housing Starts, Building Permits
  • 8:30 a.m. Canada – CPI m/m

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

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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About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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