Daily Gold News: Precious Metals Fluctuate Following Recent Gains

The gold futures contract gained 0.48% on Thursday, as it extended Wednesday’s advance of 0.6%. The market has retraced most of the recent decline from September 1 local high of $2,001.20. On Friday intraday volatility has been relatively low despite monthly jobs data release. And the stock market’s rout didn’t trigger any significant move in gold. Gold price is trading within a month-long consolidation, as we can see on the daily chart:

Gold is 0.1% lower this morning, as it is trading along yesterday’s closing price. What about the other precious metals? Silver gained 0.77% on Thursday and today it is 0.3% lower. Platinum gained 1.74% and today it is 0.4% higher. Palladium gained 0.55% on Thursday and today it’s 0.1% lower. So precious metals are slightly retracing their yesterday’s advances this morning.

Yesterday’s U.S. Producer Price Index release has been slightly higher than expected, and the Unemployment Claims have been at 884,000 vs. the expected number of 838,000. Today we will get the Consumer Price Index release at 8:30 a.m.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Friday, September 4

• 4:00 a.m. Eurozone – German Buba President Weidmann Speech
• 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
• 2:00 p.m. U.S. – Federal Budget Balance
• All Day, Eurozone – Eurogroup Meetings

Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today!

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.

* * * * *

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.