Daily Gold News: Monday, Feb. 1 – Silver Rallying, Gold Follows

The gold futures contract gained 0.49% on Friday, as it remained within a short-term consolidation. The market gave back almost all of December’s advance in early January. Recently gold retraced some of that decline. Today it’s trading close to short-term local highs, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 1.0% higher this morning, as it is trading along Friday’s daily high. What about the other precious metals? Silver gained 3.83% on Friday and today it is 8.5% higher . Platinum gained 0.63% and today it is 4.7% higher. Palladium lost 4.90% and today 2.4% higher. So precious metals are higher this morning.

Friday’s Chicago PMI release has been better than expected at 63.8. Today we will get the ISM Manufacturing PMI release, among others.

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

Monday, February 1

• 9:30 a.m. Canada – Manufacturing PMI
• 9:45 a.m. U.S. – Final Manufacturing PMI
• 10:00 a.m. U.S. – ISM Manufacturing PMI , Construction Spending m/m, ISM Manufacturing Prices
• 2:00 p.m. U.S. – FOMC Member Bostic Speech
• 10:30 p.m. Australia – RBA Rate Statement, Cash Rate

Tuesday, February 2

• 8:30 p.m. Australia – RBA Governor Lowe Speech
• 8:45 p.m. China – Caixin Services PMI

 

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.