Gold is 0.1% higher this morning, as it is trading within a short-term consolidation. What about the other precious metals?
The gold futures contract lost 0.27% on Friday, Jan. 14, as it continued to fluctuate within a short-term consolidation. Recently gold price was gaining in a reaction to the weakening U.S. dollar, among other factors, and the market got close to the previous highs again. On Jan. 3 gold reached the local high of $1,833 before reversing lower, and on Friday, Jan. 7 it traded as low as $1,781.30. This morning the yellow metal is trading slightly above its last Friday’s closing price, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.1% higher this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver is 0.1% higher, platinum is 0.2% lower and palladium is 0.2% higher. So the main precious metals’ prices are virtually flat this morning.
Friday’s Retail Sales release has been much worse than expected at -1.9%. Today we will likely see low volatility market because of a bank holiday in the U.S.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Monday, January 17
Tuesday, January 18
For a look at all of today’s economic events, check out our economic calendar.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
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Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.