Daily Gold News: Nov. 22 – Gold Price is Close to $1,750 Again

Gold is bouncing after a week-long decline; so far it retraced its yesterday’s drop.

The gold futures contract lost 0.84% on Monday, Novrmber 21, following its Friday’s decline of 0.5%, as it extended a short-term correction of its recent rally. Last week on Tuesday gold price reached new medium-term high of $1,791.80, but it reversed lower following Russia-Ukraine conflict news, among other factors. This morning gold is bouncing, as we can see on the daily chart (the chart includes today’s intraday data):

Today, gold price is 0.6% higher, as it is retracing yesterday’s decline. What about the other precious metals? Silver is 1.9% higher, platinum is 1.1% higher and palladium is 0.3% higher. So the main precious metals’ prices are higher this morning.

Today we will get the Richmond Manufacturing Index release at 10:00 a.m. and a series of the FOMC Members speeches. The markets will be waiting for the tomorrow’s PMI numbers, FOMC Meeting Minutes releases, among others.

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

Tuesday, November 22

  • 2:00 a.m. Australia - RBA Governor Lowe Speech
  • 10:00 a.m. U.S. - Richmond Manufacturing Index
  • 11:00 a.m. U.S. - FOMC Member Mester Speech
  • 2:15 p.m. U.S. - FOMC Member George Speech
  • 2:45 p.m. U.S. - FOMC Member Bullard Speech
  • All Day, Japan - Bank Holiday

Wednesday, November 23

  • 3:15 a.m. Eurozone - French Flash Manufacturing PMI, French Flash Services PMI
  • 3:30 a.m. Eurozone - German Flash Manufacturing PMI, German Flash Services PMI
  • 4:30 a.m. U.K. - Flash Manufacturing PMI, Flash Services PMI
  • 8:30 a.m. U.S. - Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
  • 9:45 a.m. U.S. - Flash Manufacturing PMI, Flash Services PMI
  • 10:00 a.m. U.S. - New Home Sales, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations
  • 2:00 p.m. U.S. - FOMC Meeting Minutes

Paul Rejczak
Stock Trading Strategist