Gold Stable Despite Falling Stocks, Oil
(July 20) Today gold is 0.2% higher, as it continues to trade above $1,800 price level. It is extending a short-term consolidation.
The gold futures contract lost 0.32% on Monday, as it retraced some more of its recent advances. On Thursday the market has reached a local high of $1,835. Yesterday it was declining following stocks and oil sell-off. But it has bounced from the support level of $1,800. This morning gold is trading slightly above yesterday’s closing price.
Today gold is 0.2% higher, as it continues to trade above $1,800 price level. It is extending a short-term consolidation. What about the other precious metals? Silver is 0.3% lower, platinum is 0.1% lower and palladium is 0.1% higher.
Yesterday’s NAHB Housing Market Index release has been slightly worse than expected at 80.
Today we will get the U.S. Building Permits, Housing Starts releases at 8:30 a.m.
FXEmpire