Daily Gold News: Friday, Oct. 15 – Gold Bounces Off $1,800 Price Level
The gold futures contract gained 0.18% on Thursday, as it slightly extended its Wednesday’s advance of 2%. The market reacted to the U.S. inflation releases, among other factors. This morning gold is trading below the $,1800 price level, as we can see on the daily chart (the chart includes today’s intraday data):
Today gold is 0.8% lower, as it is retracing some of its Wednesday’s rally. What about the other precious metals? Silver is 0.9% lower, platinum is 0.7% lower and palladium is 0.4% higher. So precious metals’ prices are lower this morning.
Yesterday’s Producer Price Index release has been slightly lower than expected at +0.4% and the Unemployment Claims release has been lower than expected at 293,000. Today we will get the important Retail Sales release at 8:30 a.m. We will also have the Empire State Manufacturing Index, Michigan Consumer Sentiment and Business Inventories releases this morning.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, October 15
- 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
- 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Business Inventories m/m, Preliminary UoM Inflation Expectations
- 12:20 p.m. U.S. – FOMC Member Williams Speech
- All Day – IMF Meetings
For a look at all of today’s economic events, check out our economic calendar.
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
* * * * *
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ 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, Paul Rejczak 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. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s 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. Paul Rejczak, 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.