Daily Gold News: Thursday, Oct. 14 – Gold Advances to $1,800 After U.S. Inflation Data

The gold futures contract gained 2.01% on Wednesday, as it broke above its two-week-long consolidation along the $1,750 price level. The market reacted to higher than expected Consumer Price Index release, among other factors. This morning gold is trading along the $,1800 price level, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.4% higher, as it is slightly extending its yesterday’s rally. What about the other precious metals? Silver is 1.2% higher, platinum is 1.5% higher and palladium is 3.5% higher. So precious metals’ prices are higher again this morning.

Yesterday’s Consumer Price Index release has been higher than expected at +0.4% vs. the forecast number of +0.3%. Today we will get the Producer Price Index and the Unemployment Claims releases.

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

Thursday, October 14

• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
• 10:00 a.m. U.S. – FOMC Member Bostic Speech
• 1:00 p.m. U.S. – FOMC Member Barkin Speech

Friday, October 15

• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Empire State Manufacturing Index
• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Business Inventories m/m, Preliminary UoM Inflation Expectations
• 12:20 p.m. U.S. – FOMC Member Williams Speech
• All Day – IMF 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.

* * * * *

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.