Gold is 0.3% lower this morning, as it is retracing some of its recent advance. What about the other precious metals?
The gold futures contract gained 0.13% on Monday, as it extended its short-term consolidation following the recent advance and another breakout above the $1,800 level. Gold price was gaining in a reaction to the weakening U.S. dollar, among other factors, and the market got close to the previous highs again. On Jan. 3 gold reached the local high of $1,833 before reversing lower, and on Jan. 7 it traded as low as $1,781.30. This morning the yellow metal is trading slightly lower, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.3% lower this morning, as it is retracing some of its recent advance. What about the other precious metals? Silver is 0.4% lower, platinum is 0.2% lower and palladium is 1.5% higher. So the main precious metals’ prices are lower this morning.
Today we will get the Empire State Manufacturing Index release at 8:30 a.m. and the NAHB Housing Market Index release at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Tuesday, January 18
Wednesday, January 19
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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Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.