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Daily Gold News: Thursday, Feb. 11 – Gold’s Rebound Stalled at $1,850

By:
Paul Rejczak
Published: Feb 11, 2021, 13:15 UTC

Gold is virtually unchanged this morning, as it is trading within a short-term consolidation. What about the other precious metals?

Gold

In this article:

The gold futures contract gained 0.28% on Wednesday, as it continued to fluctuate following short-term rebound from last Thursday’s local low of $1,784.60. Last week it broke below the previous local low and $1,800 price mark following strengthening U.S. dollar and rallying stock market, among other factors. The market gave back almost all of December’s advance. This week gold bounced back higher, as we can see on the daily chart ( the chart includes today’s intraday data ):

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Gold is virtually unchanged this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver lost 1.18% on Wednesday and today it is 0.4% higher. Platinum gained 4.40% and today it’s 0.9% higher. Palladium gained 1.37% and today it’s 0.2% lower. So precious metals are mixed this morning.

Yesterday’s Consumer Price Index releases has been as expected at +0.3%. Today we will get the Unemployment Claims number release at 8:30 a.m.

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

Thursday, February 11

  • 5:00 a.m. Eurozone – EU Economic Forecasts
  • 8:30 a.m. U.S. – Unemployment Claims
  • Tentative, U.S. – Fed Monetary Policy Report
  • All Day, China – Bank Holiday

Friday, February 12

  • 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations

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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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.

 

About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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