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Daily Gold News: Tuesday, Jan. 18 – Gold’s Further Consolidation

By:
Paul Rejczak
Published: Jan 18, 2022, 13:02 UTC

Gold is 0.3% lower this morning, as it is retracing some of its recent advance. What about the other precious metals?

Daily Gold News: Tuesday, Jan. 18 – Gold’s Further Consolidation

In this article:

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):

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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

  • 5:00 a.m. Eurozone – German ZEW Economic Sentiment
  • 8:30 a.m. U.S. – Empire State Manufacturing Index
  • 10:00 a.m. U.S. – NAHB Housing Market Index
  • 4:00 p.m. U.S. – TIC Long-Term Purchases
  • Tentative, Japan – BOJ Press Conference
  • All Day, Eurozone – Eurogroup Meetings

Wednesday, January 19

  • 8:30 a.m. U.S. – Building Permits, Housing Starts
  • 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
  • 7:30 p.m. Australia – Employment Change, Unemployment Rate

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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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.

 

About the Author

Paul Rejczakcontributor

Stock market strategist, who has been known for the quality of his technical and fundamental analysis since the late nineties.

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