Gold contracts fell last night (November 16) due to the appreciation of the U.S. dollar and safe-haven asset sales after the U.S. released better than expected economic data.
- Gold contracts were down $12.5, or 0.67%, at $1,854.1 per ounce.
- Silver was down 16.1 cents, or 0.64%, at $24.944 an ounce.
- The platinum contracts were down $22.4, or 2.04%, at $1,074.5 per ounce.
- Palladium was up $11.50, or 0.5%, at $2,167.60 an ounce.
Gold contracts fall after the dollar strengthens as it is more expensive for investors holding other currencies.
- The dollar’s movement index against six major currencies in a basket of currencies rose 0.53% to 95.9182.
- The dollar strengthened against the yen at 114.69 yen from 114.08 yen.
- The dollar strengthened against the Swiss franc at 0.9310 francs from 0.9246 francs.
- The dollar was higher against the Canadian dollar at 1.2559 CAD from 1.2510 CAD.
- The euro was lower against the dollar at $1.1316 from $1.1385.
- The pound rose to $1.3428 from $1.3427.
- The Australian dollar fell to $0.7301 from $0.7350.
Investors are also selling gold as a safe haven after the U.S. released good economic data. Retail sales rose by 1.7% in October compared to the previous month. The decisive factors were the rising oil prices and the increase in auto sales for the first time in six months.
Total U.S. industrial production rose 1.6% in October after falling 1.3% in September. Total industrial production is a measure of the adjustment of manufacturing, mining, and utilities in the U.S.
The Spot Market is Open
Wednesday, November 17, 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 12.00 | 1,854.80 1,855.80 | +4.40 0.24% | 1,849.50 1,857.50 |
| Silver 12.00 | 24.94 25.05 | +0.14 0.58% | 24.77 25.08 |
| Platinum 12.00 | 1,063.00 1,073.00 | +3.00 0.28% | 1,056.00 1,076.00 |
| Palladium 12.00 | 2,106.00 2,256.00 | +6.00 0.29% | 2,094.00 2,258.00 |
| Rhodium 06.00 | 13,500.00 15,500.00 | 0.00 0.00% | 13,500.00 15,500.00 |