Daily Gold News: Monday, Mar. 15 – Gold’s Short-Term Consolidation

The gold futures contract lost 0.16% on Friday, as it fluctuated after rebounding from last Monday’s local low of $1,763.30. Yellow metal sold off following U.S. dollar’s advance, stocks’ correction. The market was the lowest since early June last year. Today gold is extending its short-term fluctuations, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.05% higher this morning, as it is trading along the recent daily closing prices. What about the other precious metals? Silver is 0.6% higher, platinum is 0.9% higher and palladium is virtually flat today. So precious metals are mixed this morning.

Friday’s Producer Price Index release has been slightly higher than expected at +0.5%. Today we will get the Empire State Manufacturing Index number at 8:30 a.m.

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

Monday, March 15

• 8:30 a.m. U.S. – Empire State Manufacturing Index

Tuesday, March 16

• 6:00 a.m. Eurozone – ZEW Economic Sentiment, German ZEW Economic Sentiment
• 8:30 a.m. U.S. – Retail Sales m/m , Core Retail Sales m/m , Import Prices m/m
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
• Tentative, Japan – BOJ Governor Kuroda Speech

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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