Gold prices are moderately higher near midday Monday, on some short covering by the shorter-term futures traders and some perceived bargain hunting after recent selling pressure. Gold and silver prices overnight hit four-week lows.
Gold prices are moderately higher near midday Monday, on some short covering by the shorter-term futures traders and some perceived bargain hunting after recent selling pressure. Gold and silver prices overnight hit four-week lows. December gold was last up $7.00 at $1,944.70. December silver was last down $0.061 at $22.215. U.S. stock indexes are slightly lower so far today.
Risk appetite has been slowly creeping back into the general marketplace recently, as there has been no major military escalation in the Israel-Hamas war, at least from the markets’ point of view. That’s been a bearish weight on the safe-haven gold and silver markets for the past couple weeks. It was a quiet economic data day to start the U.S. trading week Monday. However, the pace picks up rapidly Tuesday with the release of the consumer price index report for October, which is forecast at up 3.3%, year-on-year, versus a gain of 3.7% in the September report. The core CPI rate is seen up 4.1% versus 4.1% seen in the September report. Also on tap this week, U.S
Gold Prices Rise Short Covering Bargain Hunting Silver Stock Indexes Risk Appetite Marketplace Military Escalation Safe-Haven Markets Economic Data Trading Week Consumer Price Index Forecast Core CPI Rate
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