Daily Gold News: Thursday, Dec. 16 – Gold’s Volatility Following the FOMC Release

The gold futures contract lost 0.44% on Wednesday, as it broke slightly below the early December local low. The market was volatile following the FOMC release. Today gold is retracing its yesterday’s decline after the U.S. dollar decline and this morning the yellow metal is trading closer to the recent local highs, 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 trading closer to the $1,800 level. What about the other precious metals? Silver is 0.7% higher, platinum is 1.5% higher and palladium is 4.5% higher. So precious metals’ prices are higher this morning.

Yesterday’s Retail Sales release has been worse than expected at +0.3%. Today we will get the Unemployment Claims, Philly Fed Manufacturing Index, Building Permits/ Housing Starts, Industrial Production, Flash Manufacturing PMI and Flash Services PMI releases.

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

Thursday, December 16

• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 7:00 a.m. U.K. – Monetary Policy Summary, Official Bank Rate
• 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
• 8:30 a.m. U.S. – Unemployment Claims, Philly Fed Manufacturing Index, Building Permits, Housing Starts
• 8:30 a.m. Eurozone – ECB Press Conference
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate

Friday, December 17

• Tentative, Japan – BOJ Press Conference
• 4:00 a.m. Eurozone – German ifo Business Climate
• 1:00 p.m. U.S. – FOMC Member Waller Speech

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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