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Daily Gold News: Friday, Oct. 15 – Gold Bounces Off $1,800 Price Level

By:
Paul Rejczak
Published: Oct 15, 2021, 12:24 UTC

Today gold is 0.8% lower, as it is retracing some of its Wednesday’s rally. What about the other precious metals?

Daily Gold News: Friday, Oct. 15 – Gold Bounces Off $1,800 Price Level

In this article:

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):

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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.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

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About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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