Gold Price Is The Lowest Since 2020

NEW YORK (September 16) The gold futures contract lost 1.86% on Thursday, September 15, as it broke below its recent local lows following stock markets’ sell-off, strong U.S. dollar, monetary policy tightening fears. The market broke below the $1,700 level and it was the lowest since April of 2020. This morning the yellow metal is trading along its yesterday’s closing price.

Precious Metals Price Action

Gold is 0.1% higher this morning, as it is trading along the $1,660 level. What about the other precious metals? Silver is 1.0% lower, platinum is 1.9% lower and palladium is 1.5% lower. So the main precious metals’ prices are mixed this morning.

Fundamentals and Economic News Schedule

Yesterday’s Retail Sales release has been lower than expected at -0.3% m/m and the Empire State Manufacturing Index has been higher than expected at -1.5. Today we will get the UoM Consumer Sentiment release at 10:00 a.m.

FXEmpire