Daily Gold News: Nov. 23 – Gold Price Goes Sideways Ahead of Holiday

Gold remains below the $1,750 level, economic data releases in focus.

The gold futures contract gained 0.02% on Tuesday, November 22, as it fluctuated following a week-long correction of the recent rally. Last week on Tuesday gold price reached new medium-term high of $1,791.80. The yellow metal reversed lower and this week it has been trading below the $1,750 level. This morning gold price is trading along its yesterday’s close, as we can see on the daily chart (the chart includes today’s intraday data):

Today, gold price is unchanged, as it is still trading below the $1,750 level. What about the other precious metals? Silver is 0.9% higher, platinum is 0.2% higher and palladium is 1.4% higher. So the main precious metals’ prices are mixed this morning.

Yesterday’s Richmond Manufacturing Index release has been as expected at -9. Today we will get the important U.S. PMI numbers releases at 9:45 a.m., the FOMC Meeting Minutes release at 2:00 p.m., among others.

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

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

Thursday, November 24

  • 4:00 a.m. Eurozone - German ifo Business Climate
  • All Day, U.S. - Bank Holiday

Paul Rejczak
Stock Trading Strategist