Gold Bounces From New Medium-Term Low

NEW YORK (Oct 21) The gold futures contract gained 0.16% on Thursday, October 20, as it fluctuated following its recent declines. On Wednesday the market broke below the $1,650 level on strong U.S. dollar, stock markets’ uncertainty. On September 28 gold bounced from the new medium-term low. It was the lowest since the Spring. Then gold price has been driven higher by the U.S. dollar reversal, stock markets’ advances. On October 4 the daily high was at $1,738.70. This morning gold is bouncing from the new medium-term low along the $1,620 level.

What about the other precious metals? Silver is 1.4% lower, platinum is 0.6% lower and palladium is 1.8% lower. So the main precious metals’ prices are mixed this morning.

FXEmpire