Daily Gold News: Thursday, Feb. 17 – Gold Breaks Towards the $1,900 Price Level

The gold futures contract gained 0.82% on Wednesday, Feb. 16 following its Tuesday’s decline of 0.7%, as the market fluctuated after the recent rally. On Tuesday investors took short-term profits off the table amid easing Russia-Ukraine tensions and today gold is breaking higher, as the conflict news hit again. Today, the market is trading closer to the $1,900 price level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.8% higher this morning, as it is trading above the recent consolidation. What about the other precious metals? Silver is 0.1% higher, platinum is 1.5% higher and palladium is 1.0% higher. So the main precious metals’ prices are higher this morning.

Yesterday’s Retail Sales release has been much better than expected at +3.9%. This morning we will get the Unemployment Claims, Philly Fed Manufacturing Index and Building Permits/ Housing Starts releases at 8:30 a.m. We will also get some Fed-talk today.

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

Thursday, February 17

• 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts
• 11:00 a.m. U.S. – FOMC Member Bullard Speech
• 5:00 p.m. U.S. – FOMC Member Mester Speech
• All Day – G20 Meetings

Friday, February 18

• 8:30 a.m. Canada – Retail Sales m/m, Core Retail Sales m/m
• 10:00 a.m. U.S. – Existing Home Sales, CB Leading Index m/m
• 10:45 a.m. U.S. – FOMC Member Waller Speech
• 11:00 a.m. U.S. – FOMC Member Williams Speech
• 1:30 p.m. U.S. – FOMC Member Brainard Speech
• Tentative, U.S. – Fed Monetary Policy Report
• All Day – G20 Meetings

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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