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Daily Gold News: Tuesday, Nov. 30 – Gold Price Still Going Sideways

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·3 min read
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  • GC=F
  • PL=F
  • SI=F
  • PA=F
  • ZG=F
  • ZI=F

The gold futures contract lost 0.02% on Monday, as it continued to fluctuate following the recent declines and a breakdown below the $1,800 level. The market sold off in a reaction to strengthening U.S. dollar and volatile stock prices, among other factors. This morning gold is further extending its short-term consolidation. The yellow metal continues to trade along $1,800 level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.4% higher this morning, as it trading slighlty below the $1,800 price level. What about the other precious metals? Silver is 0.3% lower, platinum is 1.6% lower and palladium is 2.0% lower. So precious metals’ prices are mixed this morning.

Yesterday’s Pending Home Sales release has been higher than expected at +7.5%. Today we will get the Chicago PMI, CB Consumer Confidence releases and a testimony from the Fed Chair Powell, among others.

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

Tuesday, November 30

  • 8:30 a.m. Canada – GDP m/m

  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y

  • 9:45 a.m. U.S. – Chicago PMI

  • 10:00 a.m. U.S. – Fed Chair Powell Testimony, CB Consumer Confidence, Treasury Secretary Yellen Speech

  • 10:30 a.m. U.S. – FOMC Member Williams Speech

  • 1:00 p.m. U.S. – FOMC Member Clarida Speech

  • 7:30 p.m. Australia – GDP q/q

  • Tentative, Japan – BOJ Governor Kuroda Speech

Wednesday, December 1

  • 8:15 a.m. U.S. – ADP Non-Farm Employment Change

  • 9:00 a.m. U.K. – BOE Governor Bailey Speech

  • 9:45 a.m. U.S. – Final Manufacturing PMI

  • 10:00 a.m. U.S. – Fed Chair Powell Testimony, ISM Manufacturing PMI, Treasury Secretary Yellen Speech, Construction Spending m/m, ISM Manufacturing Prices

  • 2:00 p.m. U.S. – Beige Book

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

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.

This article was originally posted on FX Empire

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