Daily Gold News: Thursday, Apr. 15 – Gold Higher Ahead of Data Releases

The gold futures contract lost 0.65% on Wednesday, as it further extended its short-term consolidation. The market has bounced from the support level marked by March 8 local low of $1,763.30. In early March yellow metal’s price was the lowest since last year’s June. Today gold is trading higher again, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.6% higher this morning, as it is retracing yesterday’s decline. What about the other precious metals? Silver is 0.6% higher, platinum is 1.5% higher and palladium is 1.8% higher today. So precious metals are higher this morning.

The markets will be waiting for the important Retail Sales release at 8:30 a.m. We will also have Philly Fed Manufacturing Index, Unemployment Claims, Industrial Production and

Business Inventories announcements today.

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

Thursday, April 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m , Philly Fed Manufacturing Index, Unemployment Claims
• 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
• 11:30 a.m. U.S. – FOMC Member Bostic Speech
• 2:00 p.m. U.S. – FOMC Member Daly Speech
• 10:00 p.m. China – GDP q/y

Friday, April 16

• 8:30 a.m. U.S. – Building Permits, Housing Starts
• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
• All Day, Eurozone – ECOFIN Meetings, Eurogroup Meetings

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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