Daily Gold News: Thursday, Apr. 14 – Gold Price Remains Below $2,000

Gold Price Recap

The gold futures contract gained 0.44% on Wednesday, Apr. 13, as it extended a short-term uptrend after breaking above the $1,950 price level. The yellow metal’s price was the highest since mid-March on worries about inflation and Russia-Ukraine conflict. This morning gold is retracing some of yesterday’s advance, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.2% lower this morning, as it is trading slightly below its yesterday’s local highs. What about the other precious metals? Silver is 0.4% lower, platinum is 0.3% lower and palladium is 2.3% higher. So the main precious metals’ prices are lower this morning.

Gold Fundamental Analysis and Economic News Schedule

Yesterday’s Producer Price Index release has been higher than expected at +1.4%. Today we will get the ECB release at 7:45 a.m. and the important Retail Sales release at 8:30 a.m., among others.

The markets will continue to react to the ongoing Russia-Ukraine war news.

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

Thursday, April 14

• 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Import Prices m/m
• 8:30m a.m. Eurozone – ECB Press Conference
• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations, Business Inventories m/m
• 3:50 p.m. U.S. – FOMC Member Mester Speech
• All Day, Australia – Bank Holiday

Friday, April 15

• 8:30 a.m. U.S. – Empire State Manufacturing Index
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 4:00 p.m. U.S. – TIC Long-Term Purchases
• All Day, Canada – Bank Holiday
• All Day, U.K. – Bank Holiday
• All Day, Eurozone – German Bank Holiday

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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