Inflation Posts Largest Rise in Nine Months
Prices are officially on the rise. According to marketwatch.com, consumers paid more for gas, rent and used vehicles in the month of October.
Gold Hits Four Week Low
Gold is under pressure again today to kick off the new trading week. As of this post, the yellow metal is down $6.80 per ounce at $1202.60. The U.S. Government is closed today in observance of the Veteran’s Day Holiday, and while stocks are open the bond market is closed. Price action could potentially see some increasing volatility today due to lighter trading volumes.
U.S. Mint Bullion Sales Figures for the Month of October
The US Mint issues millions of gold and silver bullion coins every year, which are sold through authorized dealers around the country.
All Eyes on the Midterms
The highly anticipated midterm elections have now arrived, and the results could potentially have a major impact on financial markets. Gold is trading slightly lower in early action today, as stocks move slightly higher. Price action appears to be on the calm side for now as investors eagerly await the election results.
Gold Sharply Higher as Data Disappoints and the Dollar Eases
The gold market is seeing some strong buying in early action today as the dollar index weakens and some key data points potentially point to slowing growth. The yellow metal is up nearly $18 per ounce at $1232 in early trade.
Chicago PMI Falls to Six Month Low
According to tradingeconomics.com, the latest reading of the Chicago Purchasing Manager’s Index, or PMI, declined to 58.4 in October from a September reading of 60.4. Although a reading over 50 represents growth, the October data was the lowest reading since April.
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