Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold was little changed, dipping 80 cents to hold above $1,232, as equities mounted a modest rally while traders await the results of tomorrow's hotly contested midterm elections in the US.

The Dow gained 0.6% and the S&P added 0.4%, buoyed by President Trump's statement on Friday that progress is being made in trade negotiations with China. His Chinese counterpart, Xi Jinping, said today that he will address criticisms of unfair trade practices by reducing tariffs and opening markets.

The dollar dipped 0.1% as traders speculate that a divided US government, should Democrats retake the House, will be bearish for the currency by creating political gridlock. Meanwhile, the Federal Reserve will meet this week on monetary policy, though no changes in interest rates are expected.

The ISM reported service-oriented companies continued to expand solidly in October, slipping only slightly from September's 21-year high.

The other precious metals were mixed. Silver edged down a penny while platinum fell 0.7% and palladium jumped 1.4%, supported by trade optimism with China.

At the Comex close: December gold dipped 80 cents to $1,232.30; December silver edged down one cent to $14.65; January platinum fell $6.30 to $869.40; and December palladium jumped $17.10 to $1,121.60 an ounce.