Daily Gold News: Thursday, Nov. 12 – Gold Continues Sideways

The gold futures contract lost 0.79% on Wednesday, as it continued to fluctuate 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 0.3% higher this morning, as it remains within a short-term consolidation. What about the other precious metals? Silver lost 0.80% on Wednesday and today it is 0.4% lower. Platinum lost 2.76% and today it is 0.4% higher. Palladium lost 6.26% yesterday and today it’s 1.1% higher. So precious metals are slightly higher this morning .

We didn’t get any new important economic data releases yesterday. Today the markets will await the U.S. CPI number release and the Fed Chair Powell speech.

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

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

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.

* * * * *


All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.