Daily Gold News: Tuesday, Dec. 28 – Gold Extends its Advances

The gold futures contract lost 0.16% on Monday, as it fluctuated along its recent local highs. The yellow metal’s price remained above the $1,800 level. Last week the market broke above that level again and it extended a consolidation following the recent short-term advance. In mid-December it fell to the local low of $1,753. This morning gold is trading the highest since the second half of November, 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 extending an advance above the $1,800 level. What about the other precious metals? Silver is 0.6% higher, platinum is also 0.6% higher and palladium is 0.9% higher. So precious metals’ prices are higher this morning.

Today we will get the HPI and Richmond Manufacturing Index releases.

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

Tuesday, December 28

• 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y
• 10:00 a.m. U.S. – Richmond Manufacturing Index
• All Day, Canada – Bank Holiday
• All Day, U.K. – Bank Holiday

Wednesday, December 29

• 8:30 a.m. U.S. – Goods Trade Balance, Preliminary Wholesale Inventories m/m
• 10:00 a.m. U.S. – Pending Home Sales m/m

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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