Questions? Call 1-800-613-9323
Free Shipping on Orders $999+
Home > Gold > Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

11/11/2019: Gold slides to 3-month low

Source: Bill Musgrave, American Gold Exchange

Austin — Extending last week's 3.2% slide, gold dropped 0.4% to close under $1,458 as appetite waned for safe-haven assets despite an uptick in trade uncertainty. It was the metal's lowest close since early August.

Comments from President Trump over the weekend caused markets to wonder whether last week's optimism about US-China trade relations was premature. Trump said that while negotiations are coming along "nicely" if too slow, he is not ready to lift tariffs and China has more to lose from the trade war than does the US.

Stocks rallied last week while gold fell on expectations that the so-called "phase one" trade agreement was on its way. Today's revision of that hope pushed the S&P 500 and Global Dow lower by 0.3%.

Treasury yields, however, continued to climb as investors shifted away from safe havens like government debt and gold.

Some upbeat US data also pressured the metal after US consumer sentiment rose in November, according to the preliminary University of Michigan survey. Consumer spending is the backbone of the US economy, accounting for around 70% of GDP.

The other precious metals were also lower, with silver dipping 0.1% while platinum and palladium lost 1.4% and 3.1%, respectively.

At the Comex close: December gold slipped $5.80 to $1,457.10; December silver dipped 2 cents to $16.80; January platinum fell $12.50 to $880.60; and December palladium dropped $52.60 to $1,656 an ounce.


Metal Ask      Change
Gold $1,780.89           $0.00
Silver $18.21           $0.00
Platinum $832.41           $0.00
Palladium $1,973.67           $0.00
In US Dollars