Daily Gold News: Gold Lower As Dollar Gains

December 28, 2020
Stock Market Strategist & Author

Gold is 0.2% lower this morning, as it is further extending its short-term consolidation after bouncing from $1,900 resistance level.

The gold futures contract gained 0.27% on Thursday, as it continued to fluctuate within a short-term consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Since then it has been retracing some of the decline, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is further extending its short-term consolidation after bouncing from $1,900 resistance level. Earlier in the morning the market was gaining in reaction to new U.S. stimulus package. What about the other precious metals? Silver lost 0.05% on Thursday and today it is 1.6% higher. Platinum gained 1.16% and today it is 0.7% higher. Palladium gained 0.29% on Thursday and today it’s 0.7% higher. So precious metals are mixed this morning .

Today we won’t get any new important economic data releases.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, December 28

  • All Day, Canada – Bank Holiday

Tuesday, December 29

  • No important economic data releases

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

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Paul Rejczak is a stock market strategist, who has been known for quality of his technical and fundamental analysis since the late nineties. He is interested in forecasting market behavior based on both traditional and innovative methods of technical analysis. Paul has made his name by developing mechanical trading systems. Paul is the author of Sunshine Profits’ premium service for stock traders: Stock Trading Alerts.

The total world's holdings of gold could be transported by a single solitary oil tanker.

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