Daily Gold News: Gold’s Indecision Following 5% Drop

The gold futures contract lost 4.99% on Monday following global financial markets’ euphoria rally after Covid-19 vaccine news release. The yellow metal has retraced all of its 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 0.7% higher this morning, as it is bouncing after yesterday’s relatively large sell-off. What about the other precious metals? Silver lost 7.64% on Monday and today it is 0.2% lower. Platinum lost 3.56% and today it is 0.2% higher. Palladium lost 0.03% on Monday and today it’s 0.5% lower. So precious metals are mixed this morning .

Today we will get some more Fed talk. The German ZEW Economic Sentiment has been lower than expected at 39.0 earlier this morning.

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

Tuesday, November 10

• 5:00 a.m. Eurozone – German ZEW Economic Sentiment
• 6:00 a.m. U.S. – NFIB Small Business Index
• 10:00 a.m. U.S. – JOLTS Job Openings
• 12:00 p.m. U.S. – FOMC Member Kaplan Speech
• 2:00 p.m. U.S. – FOMC Member Quarles Speech
• 5:00 p.m. U.S. – FOMC Member Brainard Speech

Wednesday, November 11

• All Day, U.S. – Bank Holiday
• All Day, Canada – Bank Holiday

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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