Daily Gold News: Monday, Sep. 13 – Gold Price Still Below $1,800Today gold is 0.1% higher, as it is trading within a short-term consolidation following the mentioned decline from the recent local highs.
The gold futures contract lost 0.44% on Friday as it extended its fluctuations following last week’s Tuesday’s decline of almost 2%. The yellow metal has retraced all of its recent advance and it fell back below $1,800 price level. It reacted to the strengthening U.S. dollar, among other factors. This morning gold is trading below the price level of $1,800, as we can see on the daily chart (the chart includes today’s intraday data):
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Today gold is 0.1% higher, as it is trading within a short-term consolidation following the mentioned decline from the recent local highs. What about the other precious metals? Silver is 0.4% lower, platinum is 0.6% lower and palladium is 0.4% higher. So precious metals’ prices are mixed this morning.
Friday’s important Producer Price Index release has been slightly higher than expected at +0.7% m/m. The Wholesale Inventories release has been as expected at +0.6%. Today we won’t get any new important economic data releases. Investors will be waiting for tomorrow’s Consumer Price Index release.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:
Monday, September 13
- 2:00 p.m. U.S. – Federal Budget Balance
- 10:45 p.m. Australia – RBA Governor Lowe Speech
Tuesday, September 14
- 6:00 a.m. U.S. – NFIB Small Business Index
- 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
- 10:00 p.m. China – Retail Sales y/y
For a look at all of today’s economic events, check out our economic calendar.
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