Daily Gold News: Friday, Nov. 13 – Gold Slightly Higher Again

The gold futures contract gained 0.63% on Thursday, as it extended its short-term consolidation following Monday’s 5% sell-off. Gold sold off after global financial markets’ euphoria rally in reaction to Covid-19 vaccine news release. The yellow metal has retraced all of last week’s 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 0.5% higher this morning, as it is extending yesterday’s advance. What about the other precious metals? Silver gained 0.16% on Thursday and today it is 0.4% higher. Platinum gained 1.83% and today it is 1.1% higher. Palladium gained 1.08% yesterday and today it’s 0.4% higher. So precious metals are higher again this morning .

Yesterday’s U.S. CPI release has been flat at 0.0% vs. expected rise of 0.1%. The Unemployment Claims number has been slightly lower than expected at 709,000. Today we will get the Producer Price Index at 8:30 a.m. and Preliminary UoM Consumer Sentiment release at 10:00 a.m.

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

Friday, November 13

• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations

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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