Daily Gold News: Monday, Dec. 21 – Gold’s Increased Volatility

The gold futures contract lost 0.08% on Friday, as it fluctuated following Thursday’s advance. In late November the market has reached a new low after breaking below the local lows along $1,850 price level. On Thursday gold broke above the previous local high following last Wednesday’s FOMC release and then it reached its mid-November local high, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.2% lower this morning, as it is trading along Friday’s daily closing price. What about the other precious metals? Silver lost 0.57% on Friday and today it is 1.6% higher. Platinum lost 0.67% and today it is 4.7% lower. Palladium gained 1.04% on Friday and today it’s 2.3% lower. So precious metals are mixed this morning .

Today we won’t get any new important economic data releases. The U.S. Final GDP q/q will be released on Tuesday.

Gold price broke above its previous local high after last week’s Wednesday’s FOMC Statement announcement. The market followed its average historical path , as we can see on the next chart.

The chart shows average gold price path before and after the FOMC releases for the past 47 months and 32 releases. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.45% higher 10 days after the FOMC Statement announcement.

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

Monday, December 21

No important economic data releases

Tuesday, December 22

• 8:30 a.m. U.S. – Final GDP q/q , Final GDP Price Index q/q
• 10:00 a.m. U.S. – CB Consumer Confidence, Existing Home Sales, Richmond Manufacturing Index

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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