Daily Gold News: Tuesday, Dec. 21 – Gold’s Short-Term Consolidation Along the $1,800 Level

The gold futures contract lost 0.57% on Monday, as it fluctuated following the recent advance. The market was gaining after the last Wednesday’s FOMC Monetary Policy release. It got back above the $1,800 level and on Friday it traded as high as $1,815. This morning the yellow metal is trading within a short-term consolidation, 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 trading very close to the $1,800 level. What about the other precious metals? Silver is 2.1% higher, platinum is 1.0% higher and palladium is 3.9% higher. So precious metals’ prices are higher this morning.

Today we will get the U.S. Current Account release but the markets will be waiting for the Wednesday’s CB Consumer Confidence release and the important Thursday’s Core PCE Price Index release.

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

Tuesday, December 21

• 8:30 a.m. U.S. – Current Account

Wednesday, December 22

• 8:30 a.m. U.S. – Final GDP q/q, Final GDP Price Index q/q
• 10:00 a.m. U.S. – CB Consumer Confidence, Existing Home Sales
• Tentative, Japan – BOJ Governor Kuroda 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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