Daily Gold News: Gold Going Sideways Following Monday’s Rebound

The gold futures contract gained 0.4% on Monday after bouncing from an overnight low of around $1,800. The market gave back almost all of its December’s advance recently. Gold is trading within a short-term consolidation, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% higher this morning, as it continues to trade within a consolidation. The market remains close to $1,850 price level. What about the other precious metals? Silver is 1.2% higher. Platinum is gaining 1.1% and palladium is 0.4% higher. So precious metals are higher this morning.

Today we won’t get any important economic data releases. The markets will wait for tomorrow’s President-Elect Biden Speech and the Bank of Japan Outlook Report release, among others.

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

Tuesday, January 19

• 5:00 a.m. Eurozone – German ZEW Economic Sentiment
• All Day, Eurozone – ECOFIN Meetings

Wednesday, January 20

• 10:00 a.m. U.S. – NAHB Housing Market Index
• 10:00 a.m. Canada – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
• Tentative, U.S. – President-Elect Biden Speech
• 7:30 p.m. Australia – Employment Change, Unemployment Rate
• Tentative, Japan – BOJ Outlook Report, Monetary Policy Statement

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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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.