Gold Price Remains Below $1,700

NEW YORK (Oct 11) The gold futures contract lost 1.99% on Monday, October 10, as it broke below its last week’s local lows. On September 28 it bounced from the new medium-term low of $1,622.20. It was the lowest since Spring of 2020 on strong U.S. dollar, stock markets’ rout. Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. Last Tuesday’s daily high was at $1,738.70. This morning gold is trading along its yesterday’s closing price.

Today, gold is 0.1% lower, as it is trading within a relatively narrow price range. What about the other precious metals? Silver is 1.1% lower, platinum is 1.0% lower and palladium is 0.5% higher. So the main precious metals’ prices are mixed this morning.

FXEmpire