Daily Gold News: Gold Still at $1,900 as Markets Remain IndecisiveGold is unchanged this morning, as it is extending a short-term consolidation.
The gold futures contract gained 0.08% on Thursday, as it continued to fluctuate following Tuesday’s retreat below $1,900 price level. Recently gold was retracing a rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance, among other factors. Then gold has bounced from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):
Gold is unchanged this morning, as it is extending a short-term consolidation. What about the other precious metals? Silver lost 0.7% on Thursday and today it is 0.3% higher. Platinum lost 0.24% and today it is 0.7% lower. Palladium gained just 0.03% yesterday and today it is 0.7% lower. So precious metals are mixed this morning.
Yesterday’s U.S. Philly Fed Manufacturing Index has been better than expected, however Unemployment Claims and Empire State Manufacturing Index releases have been worse than expected. Today we will get the important Retail Sales release at 8:30 a.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Friday, October 16
- 5:00 a.m. Eurozone – Final CPI y/y, Final Core CPI y/y, Trade Balance
- 8:30 a.m. U.S. – Retail Sales m/m , Core Retail Sales m/m
- 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
- 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Business Inventories m/m
For a look at all of today’s economic events, check out our economic calendar.
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