That surge proved to be disappointing for gold. According to a Marketwatch report, the 0.7% rise well outstripped the consensus forecast for a 0.1% gain. Results for October were also improved from a 0.9% decrease to 0.7%.
The U.S. equity market liked the results, which preceded a halt in an early-morning decline. Gold, though, dropped before the news hit and continued to fall twenty minutes after the news was released. Coinciding with the time of the release was a temporary respite from the decline at around $1,388. Forty-five minutes later, the metal fell to as low as $1,380.80.
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