The precious complex is on autopilot today

The precious complex is on autopilot today as there’s little in the way of economic news to get market participants off the sidelines. The atmosphere should be rather calm ahead of the rate decisions by both the Bank of England and the European Central Bank on Thursday. Also on tap for the latter half of the week is 3^rd Quarter GDP data, also on Thursday, and the highly anticipated Government Non-Farm Payroll data on Friday. Just released ISM service sector index posted a 55.4 last month, beating expectations of a slight pullback and coming in a full 1% higher than Septembers reading. Gold is trading .5% lower from Monday’s close of $1314.70, having pushed as high as $1320.60 in overnight trading. The PGM side of the complex remains unfazed by ongoing strike action in South Africa and the potential for more. Platinum is just $6 lower from yesterday’s close and now trades $1450. Have a great day!