Daily Gold News: Tuesday, Feb. 8 – Gold Price Remains Above $1,800 Level

The gold futures contract gained 0.77% on Monday, Feb. 7 following its Friday’s advance of 0.2%, as the market extended an advance above the $1,800 level. Last week the market was extending its short-term consolidation following the late January sell-off. The yellow metal’s price reacted negatively to the strengthening U.S. dollar, among other factors. This morning gold is trading along the yesterday’s daily close, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% lower this morning, as it is trading around 1% above the $1,800 price level. What about the other precious metals? Silver is 0.8% lower, platinum is 1.4% lower and palladium is 1.3% lower. So the main precious metals’ prices are lower this morning.

Yesterday we didn’t get any new important economic data announcements and today we will get the U.S. Trade Balance release at 8:30 a.m.

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

Tuesday, February 8

• 8:30 a.m. U.S. – Trade Balance
• 10:00 a.m. U.S. – IBD/TIPP Economic Optimism

Wednesday, February 9

• 10:00 a.m. U.S. – Final Wholesale Inventories m/m
• 10:30 a.m. U.S. – FOMC Member Bowman Speech
• 12:00 a.m. U.S. – FOMC Member Mester Speech
• 12:00 p.m. Canada – BOC Governor Macklem Speech
• 1:01 p.m. U.S. – 10-y Bond Auction

Paul Rejczak
Stock Trading 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.