(Kitco News) - Gold and silver prices are higher in midday U.S. trading Tuesday, as traders are in the middle of a two-day barrage of U.S. economic data releases that so far are showing a mixed bag. December gold was last up $41.30 at $4,135.80. December silver prices were up $0.409 at $50.75.
Today, retail sales in the U.S. increased 0.2% month-over-month in September, compared to market expectations of 0.4% rise and a 0.6% gain in August.
September U.S. producer prices rose by 0.3% from the previous month, rebounding from the unexpected 0.1% reduction in the August report.
U.S. private employers shed an average of 13,500 jobs per week in the four weeks ending November 8, a sharp increase from the prior week.
U.S. business inventories were unchanged month-over-month in August, after a downwardly revised 0.1% increase in July and compared with market forecasts of a 0.1% rise.
October U.S. pending home sales rose by 1.9% from the previous month, gaining traction from the revised 0.1% increase in the previous month and well above the preliminary estimate of a 0.5% gain.
The U.S. Fifth District Service Sector Survey showed a contraction in activity in November 2025, according to the Federal Reserve Bank of Richmond. The revenues index fell to -4 from 4, while demand held steady at 4. Expectations for future revenues and demand improved and remained in positive territory. The local business conditions index slid to -15 from -1, though the outlook brightened to 4 from -3.
The U.S. consumer confidence index for November came in at 88.7, which was weaker than market expectations.
Wednesday comes the weekly jobless claims report, durable goods orders, the second estimate of third-quarter GDP, the advance economic indicators report, the Chicago ISM business survey, personal income and outlays (including the key inflation gauges), new residential sales, the weekly DOE liquid energy stocks report, and the Federal Reserve’s beige book.
The key outside markets today see the U.S. dollar index lower. Crude oil prices are down, hit a five-week low and are trading around $57.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently around 4.02%.
Note: The gold market operates through two primary pricing mechanisms. The first is the spot market, which quotes prices for on-the-spot purchase and immediate delivery. The second is the futures market, which sets prices for delivery at a future date. Due to year-end positioning market liquidity, the December gold futures contract is currently the most actively traded on the CME.
Technically, December gold futures bulls’ next upside price objective is to produce a close above solid resistance at the November high of $4,250.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $4,000.00. First resistance is seen at the overnight high of $4,152.00 and then at $4,200.00. First support is seen at $4,100.00 and then at $4,050.00. Wyckoff's Market Rating: 6.5.
December silver futures bulls have the overall near-term technical advantage. Their next upside price objective is closing prices above solid technical resistance at the record high of $54.415. The next downside price objective for the bears is closing prices below solid support at $47.00. First resistance is seen at the overnight high of $51.51 and then at $52.00. Next support is seen at today’s low of $50.32 and then at $50.00. Wyckoff's Market Rating: 6.5.
(Hey! My “Markets Front Burner” weekly email report is my best writing and analysis, I think, because I get to look ahead at the marketplace and do some market price forecasting. Plus, I’ll throw in an educational feature to move you up the ladder of trading/investing success. And it’s free! Sign up here; it’s real easy. https://www.kitco.com/services
I’ll throw in an educational feature to move you up the ladder of trading/investing success. And it’s free! Sign up here; it’s real easy. https://www.kitco.com/services
