The gold futures contract lost 0.16% on Tuesday, as it fluctuated following its Monday’s sell-off of 2.6%. The precious metals’ market followed an advance in U.S. dollar and stocks’ sell-off early in the week. Recently gold retraced most of the decline from September 1 local high of $2,001.20. On Wednesday it has reached new short-term local high of $1,983.80 before coming back lower. This week it got close to $1,900 price mark, as we can see on the daily chart:
Gold is 0.6% lower this morning, as it is trading along its short-term local lows. What about the other precious metals? Silver gained 0.56% on Tuesday following Monday’s big decline of over 10% and today it is 3.4% lower. Platinum lost 2.13% and today it is 0.1% higher. Palladium lost 2.28% yesterday and today it’s 1.1% higher. So precious metals are mixed this morning. #FX##gold#
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