The gold futures contract gained 0.46% on Friday, as it retraced its Thursday’s loss of 0.5%. The market continues to fluctuate following the late November decline and a breakdown below the $1,800 level. It sold off in a reaction to strengthening US dollar and volatile stock prices, among other factors. This morning gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.3% higher this morning, as it gets closer to the $1,800 level again. What about the other precious metals? Silver is 0.1% higher, platinum is 0.3% lower and palladium is 0.8% lower. So precious metals’ prices are mixed this morning.
Friday’s Consumer Price Index release has been slightly higher than expected at +0.8% m/m. Today we won’t get any new important economic data announcements. The markets will be waiting for series of data releases on Tuesday and on Wednesday, including the important Wednesday’s FOMC Statement release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Monday, December 13
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12:00 p.m. U.K. - Bank Stress Test Results.
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12:30 p.m. U.K. - BOE Governor Bailey Speech.
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All Day - G7 Meetings.
Tuesday, December 14
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6:00 a.m. U.S. - NFIB Small Business Index.
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8:30 a.m. U.S. - PPI m/m, Core PPI m/m.
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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' employees and associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
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