Gold fell 3.8% and silver fell 4.4% this week
Metals in the past five trading days: Gold −3.8%; silver −4.4%; platinum −4.9%; palladium −6.2%. Our model's read of each is on its call page.
Over the week to Friday 23 October, Gold fell 3.8% (last $4,012 an ounce); silver fell 4.4% (last $54.58 an ounce); platinum fell 4.9% (last $1,553 an ounce); palladium fell 6.2% (last $1,047 an ounce); copper fell 1.1%. For copper, the figures are those of exchange-traded funds that hold futures, used as proxies because futures prices are not in our data plan, so they can differ from the spot price.
StocksXray's model reads 0 of these 5 markets as bullish and 4 as bearish. The strongest call is Palladium: bearish, score -42, medium confidence. Each market's reasoning and risk levels are on the commodity calls pages.
Over the past year gold has moved with the US dollar (the link has been negative, -0.46, and the driver has been flat over three months), US equities (the link has been positive, +0.43, and the driver has been rising over three months), US real yields (the link has been negative, -0.40, and the driver has been rising over three months). These links describe the past and are not a forecast.
In the CFTC positioning report dated 20 October, large speculators sit at 40 on a 0 to 100 scale for gold (0 is their most short in the past 104 weeks, 100 their most long).
The numbers
| Market | Last | Day |
|---|---|---|
| Gold | 4,011.71 | −0.30% |
| Silver | 54.58 | −5.04% |
| Platinum | 1,553.25 | −0.87% |
| Palladium | 1,046.70 | −1.02% |
| Copper | 39.06 | +1.53% |
More raw-material news
This brief was generated by StocksXray from our own market data, using fixed templates and automated checks. See how our news is made in the editorial standards.
Educational only, not financial advice. Numbers beside the story are from our own data.