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6:30 am Fri. November 27, 2020 (USMT)
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Daily Gold Market Report

Gold edges higher in pre-Thanksgiving trading, a quick thought on Janet Yellen as Treasury Secretary

(USAGOLD – 11/25/2020) – Gold edged higher in quiet pre-Thanksgiving trading following the sharp sell-off of the past two days. It is up $4 at $1814. Silver is up 13¢ at $23.48. The velocity of rebounds following options expiration rarely matches the downdraft. Gold, it seems, almost always takes the elevator down and the stairs back up. As we move into the long Thanksgiving weekend – a time when investors are likely to take stock of where we’ve been and where we are going – there is considerably more to weigh in the balance than in previous years. We will offer a quick thought from Canacord Genuity’s Tony Dwyer as a capstone to the events of the past few weeks and perhaps an opening salvo for what’s to come: “Janet Yellen has exceptional experience, knows how to print money, and should be instrumental in being able to negotiate a near-term fiscal package.” Though that comment is recorded in a Barron’s article on why the stock market broke 30,000, such thinking could echo loudly at some point in the precious metals markets as well.

Wishing you and yours a safe and happy Thanksgiving ………

Chart of the Day

overlay chart showing the Lewis-Mertens economic index and gold price 2000 to present

Sources:  St. Louis Federal Reserve [FRED], ICE Benchmark Administration, Daniel J. Lewis
Click to enlarge

Chart note:  As you can see, the drop in the Weekly Economic Index from early March through mid-April was the worse since the 2008 financial crisis. Since then we have had something of a recovery but the index remains deeply below the zero line. As a matter of interest, we added the price of gold. At the moment, the index is in recovery mode though it still appears a bit weak at this juncture, as it did the first time we ran this chart a month ago. Stay tuned. We will repost this chart at from time to time to see if we get a “V”, “W”, “Nike swish” or “lightning bolt” – and gold’s response. (The Weekly Economic Index incorporates a long list of economic indicators including retail activity, unemployment claims, even railroad traffic and wholesale fuel sales (to name a few) using “timely high-frequency data.”)


Live London Gold News Wire
5 to 10 minutes old --LIVE NEWS--
Gold jewellery demand to decline 35% in FY21: Icra06:12
Deccan Herald - Business News
15 to 30 minutes old --LIVE NEWS--
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TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd.05:50
Business Wire (Press Release) - Natural Resources
Gold futures gain on spot demand05:50
The Economic Times - Market
30 minutes to 1 hour old --LIVE NEWS--
Daily Gold News: Gold’s Low Volatility Following Recent Declines05:49
FX Empire - Forecast
Gold Set for Longest Weekly Losing Streak Since June on Vaccine05:48
BNN Bloomberg - Commodities
Gold jewellery demand to decline 35% in FY21: ICRA05:47
Manipal BioMachines bags gold in iGEM2020 international contest05:39
The Hindu Business Line - News
Gold jewellery demand to decline 35 per cent in FY21: Icra05:38
The Economic Times - News by Industry
1 to 2 hours old --LIVE NEWS--
Oil slips over holiday, gold vulnerable05:09
FXstreet - Latest Analysis
Gold rate increased by Rs300 per tola in Pakistan on November 2704:54 - Business
Gold still searching for answers as we look towards the end of the week04:48
Nearly 1100 demands for compensation after collapse of ex-West Ham sponsor Basset & Gold04:46
Yahoo! UK & Ireland - Finance
Gold, silver marginally down04:39
The Economic Times - Market
Gold analysis: Trades sideways04:38
FXstreet - Latest Analysis
Latest Gold Rate For Nov 27, 2020 In Pakistan04:36
Daily Times - Business
Gold faces worst week in two months as vaccine optimism weighs04:35
Reuters - Business
Gold on track for weekly fall as investors overlook vaccine doubts04:28
Business Recorder, Pakistan
2 to 4 hours old --LIVE NEWS--
First Gold Pour Announced at Morila Gold Mine in Mali04:06
Scrap Monster
Two arrested as police bust gold smuggling ring in Nairobi03:54
Kenya Broadcasting Corporation - Local News
Demand for gold jewellery expected to rebound in H203:48
The Hindu Business Line - News
Gold Rates: November 27, 202003:27
The Hindu Business Line - News
Bitcoin the new gold? Analysts see 19-times upside by Dec 202103:27
The Economic Times - Stock Markets
Gold futures rise by Rs 100 on spot demand03:09
Deccan Herald - Business News
Indian spot gold rate and silver price on Nov 27, 202002:44
Hindustan Times - Latest News
African Gold rallies big guns for new Cote d'Ivoire gold project02:37
Gold and the US election: does it matter who’s president?02:23
MoneyWeek - Gold
Inflation will restore gold’s shine02:23
MoneyWeek - Gold
4 to 6 hours old --LIVE NEWS--
COVID vaccine not the end for gold bull market02:17
ICRA: Gold Jewellery Retail Industry Demand to Recover in H2 FY2102:05
Scrap Monster
Gold Price Analysis: XAU/USD hangs near multi-month lows, just above $1800 mark01:48
Gold Price Outlook: ICICI Securities expects rates to remain in the range of Rs 48400- 4880001:39
Zee Business - Personal Finance
Gold on track for weekly fall as investors overlook vaccine doubts01:36
Yahoo! US - Finance
Gold on track for weekly fall as investors overlook vaccine doubts01:24
Reuters - Business
Gold and silver are mixed leading into the EU session01:14
Kitco - News Bites
10gm gold price slips to Rs92,50000:52
Daily Times - Business
Victory rolls out more Coogee gold hits00:48
The West Australian - Public Companies
Gold slumps as investors remain hopeful for a vaccine00:46
Gulf Today - Business - World
Gold: Techincal chart signals caution for the bulls00:37
Commodities outlook: How gold, silver, oil and agri-commodities may trade today00:36
The Economic Times - Commodities
30 miners feared dead in gold mine collapse00:26
The Zimbabwean - Business
Earlier Today --LIVE NEWS--
Gold set for weekly fall as investors look past vaccine doubts00:14
Reuters - Business
26th November, 2020: Scrap Gold, Silver and Platinum Prices Surged on Index00:05
Scrap Monster
6 to 8 hours old --LIVE NEWS--
Dh200 drop and pent-up drive spur UAE gold rush23:40
Gulf News - Business
Gold set to decline as vaccine optimism weighs23:28
Deccan Herald - Business News
Gold on track for third weekly decline23:24
Financial Mail - Markets
Gold Set to Post Decline For Third Consecutive Week23:18
FX Leaders - Gold
Gold Price Analysis: XAU/USD remains vulnerable, two key supports to watch – Confluence Detector22:47
JPMorgan Favors South African Domestics Over Gold, Tech Stocks22:25
BNN Bloomberg - Commodities
Firefinch directors show faith in gold strategy with purchase of shares on-market22:24
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