Daily Gold News: Monday, Feb. 15 – Gold’s Short-Term ConsolidationGold is 0.2% lower this morning, as it is further extending its short-term consolidation. What about the other precious metals?
The gold futures contract lost 0.20% on Friday, as it fluctuated after bouncing from resistance level of $1,850. Earlier this month it broke below the previous local low and $1,800 price mark following strengthening U.S. dollar and rallying stock market, among other factors. The market gave back almost all of December’s advance. Last week gold bounced back higher, as we can see on the daily chart ( the chart includes today’s intraday data ):
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Gold is 0.2% lower this morning, as it is further extending its short-term consolidation. What about the other precious metals? Silver gained 1.04% on Friday and today it is 1.2% higher. Platinum gained 0.96% and today it’s 3.6% higher. Palladium gained 1.53% and today it’s 0.8% higher. So precious metals are mixed this morning.
Friday’s Preliminary UoM Consumer Sentiment release has been worse than expected at 76.2. Today we won’t get any new important economic data releases. Financial markets’ volatility remains low due to U.S. holiday.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Monday, February 15
- All Day, Eurozone – Eurogroup Meetings
- All Day, U.S. – Bank Holiday
- All Day, China – Bank Holiday
Tuesday, February 16
- 5:00 a.m. Eurozone – German ZEW Economic Sentiment
- 8:30 a.m. U.S. – Empire State Manufacturing Index
- 3:00 p.m. U.S. – FOMC Member Daly Speech
- All Day, Eurozone – ECOFIN Meetings
- All Day, China – Bank Holiday
For a look at all of today’s economic events, check out our economic calendar.
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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.