Daily Gold News: Friday, Sep. 17 – Gold Sold Off to $1,750

The gold futures contract lost 2.12% on Thursday following breaking below its recent local lows as series of the U.S. economic data releases, rally in dollar led to a sell-off in precious metals. The yellow metal came back to $1,750 price level yesterday. This morning it is bouncing slightly off yesterday’s local low of $1,745.50, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.4% higher, as it is trading above $1,750 price level. What about the other precious metals? Silver is 0.5% higher, platinum is 1.9% higher and palladium is 0.7% higher. So precious metals’ prices are higher this morning.

Yesterday’s important Retail Sales number release has been much better than expected +0.7% m/m vs. -0.7% m/m. The Unemployment Claims release has been slightly worse than expected at 332,000. Today we will get the Consumer Sentiment release at 10:00 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, September 17

• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations

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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