Daily Gold News: Tuesday, Feb. 16 – Gold Continues SidewaysThe gold futures contract lost 0.24% on Monday, as it continued to fluctuate after bouncing from resistance level of $1,850.
Earlier this month it broke below the previous local low and $1,800 price mark following strengthening U.S. dollar and rallying stock market, among other factors. The market gave back almost all of December’s advance. Last week gold bounced back higher, as we can see on the daily chart ( the chart includes today’s intraday data ):
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Gold is virtually unchanged this morning, as it is extending its short-term consolidation. What about the other precious metals? Silver is 0.1% higher, platinum is 0.5% lower and palladium is 0.6% lower today. So precious metals are mixed this morning.
Yesterday financial markets’ volatility remained low due to U.S. holiday. Today we will get the Empire State Manufacturing Index release at 8:30 a.m. and some Fed talk at 3:00 p.m., among others.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, February 16
- 5:00 a.m. Eurozone – German ZEW Economic Sentiment
- 8:30 a.m. U.S. – Empire State Manufacturing Index
- 3:00 p.m. U.S. – FOMC Member Daly Speech
- All Day, Eurozone – ECOFIN Meetings
- All Day, China – Bank Holiday
Wednesday, February 17
- 8:30 a.m. U.S. – Retail Sales m/m , Core Retail Sales m/m , PPI m/m, Core PPI m/m
- 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
- 10:00 a.m. U.S. – Business Inventories m/m, NAHB Housing Market Index
- 2:00 p.m. U.S. – FOMC Meeting Minutes
- 7:30 p.m. Australia – Employment Change, Unemployment Rate
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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.