Daily Gold News: Thursday, Feb. 18 – Gold Bouncing After Recent Declines

Earlier this month it broke below the previous local low and $1,800 price mark for the first time following strengthening U.S. dollar and rallying stock market, among other factors. The market gave all of December’s advance.

Gold is now below its recent local low, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.4% higher this morning, as it is retracing some of yesterday’s decline. What about the other precious metals? Silver is 0.9% lower, platinum is 0.2% higher and palladium is 0.3% lower today. So precious metals are mixed this morning.

Yesterday’s Retail Sales number release has been much better than expected at +5.3%. The Producer Price Index has been bigger than expected at +1.3% m/m.

Today we will get Philly Fed Manufacturing Index, Unemployment Claims releases, among others.

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

Thursday, February 18

• 8:00 a.m. U.S. – FOMC Member Brainard Speech
• 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims, Building Permits, Housing Starts, Import Prices m/m

Friday, February 19

• 3:15 a.m. Eurozone – French Flash Services PMI, French Flash Manufacturing PMI
• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 9:45 a.m. U.S. – Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. – Existing Home Sales
• Tentative, U.S. – Fed Monetary Policy Report

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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