Tuesday, November 5, 2013
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 3rd 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!
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