Daily Gold News: Gold Fluctuates Following Monday’s Sell-off

The gold futures contract gained 1.19% on Tuesday, as it bounced after Monday’s 5% sell-off. Gold sold off 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 0.4% lower this morning, as it continues to fluctuate following Monday’s drop. What about the other precious metals? Silver gained 3.21% on Tuesday and today it is 0.5% lower. Platinum gained 2.92% and today it is 0.8% lower. Palladium lost 1.11% on Tuesday and today it’s 0.1% lower. So precious metals are slightly lower this morning .

Yesterday’s German ZEW Economic Sentiment has been lower than expected. Today we won’t get any new important economic data releases. And the markets will wait for tomorrow’s U.S. CPI number release and Fed Chair Powell speech.

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

Wednesday, November 11

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

Thursday, November 12

  • 8:30 a.m. U.S. – CPI m/m, Core CPI m/m, Unemployment Claims
  • 11:45 a.m. U.S. – Fed Chair Powell Speech
  • 11:45 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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