Gold and silver have posted minor losses in the early parts of Wednesday thanks to a mixed-bag of economic reports. In all, the US marketplace is significantly quieter than it usually is on a Wednesday due to the fact that today is one of the biggest travelling days of the year for Americans. With the Thanksgiving holiday tomorrow, it is likely that the duration of the week will boast a more subdued trading atmosphere, at least in the United States.
In other news, US military aircraft are at the center of a controversial decision to fly over a grouping of disputed islands in the East China Sea. Though the event is far from major, it has caught the attention of the investing marketplace nonetheless.
US Economic Data, Other News
Though few people were around to analyze them, the US released a healthy offering of economic data today. Though none of the reports are especially telling about the economy as a whole, they did end up giving the US Dollar a minor boost on the day; a boost that put some downward pressure on gold and silver. With tomorrow being a holiday in the United States, it is likely that today’s economic reports will be forgotten by the time people make their way back to work on Friday and, more likely, Monday.
In other news, US military aircraft were spotted flying over a disputed grouping of islands in the East China Sea. These islands, of which are uninhabited, are the center of heavy controversy due to the fact that both China and Japan have laid claim to them. Seeing as the US is allies with both nations, it is interesting that they would provoke China by flying plains over the islands, especially because the US has no vested interest in them. Though this incident was minor, it prompted a small increase in safe-haven demand for gold and silver. Now, investors will be anxious to see what China has to say about the United States’ military move.