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Market Commentary
Mid-Session Gold Market Report

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Mid-Session Gold Market Report for 11/6/2009

The gold market fell into the scheduled data but managed to throw off the selling pressure impressively, especially when one considers that the information pointed to ongoing US slowing. In fact, both the Non farm payrolls and the unemployment rate readings were worse than most expectations and that served to lift the Dollar and undermine a host of physical commodities like gold. Even wholesale inventories were down slightly less than expected and therefore the sweep from the economic front clearly favored the bear camp. However, gold prices still spent a large amount of time in positive territory. The low to high trading range in December gold into and through the reports this morning was roughly $15 an ounce.

The daily commentaries provide a recap of each commodity's traded price activity, an analysis of the factors that influenced price activity, a recap of any reports released that day, and a look ahead at the next day's schedule. CME Group provides market commentaries for corn, wheat, soybeans, gold and silver.

The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.