Nov. 11, 2020
Light red, mostly flat: Gold, ranging between 1,882.5 and 1,854 and is now at 1,863.8.
This downslide might be related to financial indicators data published earlier as United States JOLTs Job Openings (Sep) released earlier shows an improvement to 6.436 from the preceding data of 6.352, but falls short of the projected 6.5.
Meanwhile, United States API Weekly Crude Oil Stock released earlier shows an improvement to -5.147 from the preceding data of -8.01, but falls short of the projected -0.9. The United States 10-Year Note Auction was released on Tuesday at 6:01 PM with a figure of 0.96, This is better than the previous number of 0.765.
At the same time, at 1.5332, EUR/CAD is down to its lowest value in 4 months. USD/MXN is trading around 20.4738 after starting the session at 20.2829 (up 0.94%).
Gold is getting closer and is now only 9.7 dollars from the support line at 1,865.6. Dipping below it might indicate further losses are ahead.
The market will keep its eye on the following upcoming macroeconomics indicators: United States Core Consumer Prices figure projected at 0.2 while it previously stood at 0.2, data will be released tomorrow at 1:30 PM. The United States Consumer Price Index is projected to decline to 0.1 while the previous data was 0.2, Data will be released tomorrow at 1:30 PM. United States Crude Oil Inventories are projected to outperform the last figure at -0.913, while it previously stood at -7.998, data will be released tomorrow at 4:00 PM.