Daily Gold News: Gold Going Sideways Despite Stocks’ New Records

The gold futures contract lost 0.15% on Monday, as it further extended its short-term consolidation. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. Since then it has been retracing the decline, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.3% higher this morning, as it is trading within yesterday’s daily range. What about the other precious metals? Silver gained 2.44% on Monday and today it is 0.3% lower. Platinum gained 1.38% and today it is 0.6% higher. Palladium gained 0.25% on Monday and today it’s 0.3% higher. So precious metals are advancing this morning .

Today we won’t get any new important economic data releases. The markets will be waiting for Wednesday’s Chicago PMI number release, among others.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Tuesday, December 29

• No important economic data releases

Wednesday, December 30

• 8:30 a.m. U.S. – Goods Trade Balance, Preliminary Wholesale Inventories m/m
• 9:45 a.m. U.S. – Chicago PMI
• 10:00 a.m. U.S. – Pending Home Sales m/m
• 8:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI
• All Day, Japan – Bank Holiday

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.
Sign up for our free gold, stock, and oil newsletter today!

* * * * *

Disclaimer

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.