The Gold futures contract gained 0.36% on Friday, as it continued to fluctuate following the recent sell-off. The yellow metal fell the lowest since late November of 2019 on Monday a week ago. Since then it has been fluctuating along the $1,450-1,550 range. Today gold is extending the short-term consolidation, as stock markets get closer to their local lows amid further coronavirus pandemic fears.
Gold is 0.3% down this morning, as it remains within its Thursday’s-Friday’s trading range. What about the other precious metals? Silver gained 2.07% on Friday and today it is down 0.6%. Platinum 4.31% on Friday and on Monday morning it is up 0.5%. Palladium gained 0.71% on Friday and today it gains 3.5%. Overall, precious metals prices are going sideways this morning.
The financial markets continue to react to coronavirus crisis news. The stock market has basically crashed along with precious metals prices a week ago. And the scheduled economic data releases have been much less important than the mentioned virus crisis developments recently. However, some of last week’s releases have shown a sharp downturn. So it may be worth taking a look at today’s Market News Report to find out about this week’s economic news releases.
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