Investors are Leaning Towards Confidence – Gold Down

Last night (November 29), gold futures fell due to pressure from the appreciation of the dollar. Investors sold gold as a safe haven after the U.S. equity markets rallied sharply.

  • Gold contract was down $2.9, or 0.16%, to close at $1,785.2 per ounce.
  • Silver was down 28.3 cents, or 1.22%, at $22.852 an ounce.
  • The platinum contract was up $10.2, or 1.07%, at $964.5 per ounce.
  • The palladium contract was up $8, or 0.5%, at $1,789.20 an ounce.

With a strong dollar, gold contracts become more expensive for investors holding other currencies.

The dollar’s movement index against six major currencies in a basket of currencies rose 0.30% to 96.3315.

Safe-haven investors are selling gold after the U.S. stock market rallied sharply. As the United States has confirmed that it will not lock down the economy to prevent the spread of the Covid 19 Virus.

Strong U.S. economic data is also depressing gold prices, with the pending home sales index rising 7.5% in October from the previous month.

The Spot Market is Open

Tuesday, November 30, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
11.45
1,788.30
1,789.30
+3.80
0.21%
1,782.90
1,791.10
Silver
11.45
22.90
23.00
+0.03
0.11%
22.80
23.06
Platinum
11.45
963.00
973.00
+5.00
0.52%
958.00
976.00
Palladium
11.45
1,739.00
1,889.00
+13.00
0.75%
1,726.00
1,892.00
Rhodium
06.00
12,800.00
14,800.00
0.00
0.00%
12,800.00
14,800.00

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