Daily Gold News: Tuesday, Jan. 4 – Gold Is Close to the $1,800 Level Again

The gold futures contract lost 1.56% on Monday, as it retraced its recent advance after gaining 0.8% on Friday. Yesterday gold reached the new local high of $1,833 before going back slightly below the $1,800 mark. Right now is trading along the $1,800 price level, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.2% higher this morning, as it is trading along the yesterday’s daily closing price and above the $1,800 level. What about the other precious metals? Silver is 0.3% lower, platinum is virtually flat and palladium is 2.2% higher. So the main precious metals’ prices are mixed this morning.

Today we will get the U.S. ISM Manufacturing PMI release at 10:00 a.m. The markets will be waiting for tomorrow’s ADP Non-Farm Employment Change and the FOMC Meeting Minutes releases.

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

Tuesday, January 4

• 10:00 a.m. U.S. – ISM Manufacturing PMI, JOLTS Job Openings
• All Day – OPEC-JMMC Meetings

Wednesday, January 5

• 8:15 a.m. U.S. – ADP Non-Farm Employment Change
• 9:45 a.m. U.S. – Final Services PMI
• 2:00 p.m. U.S. – FOMC Meeting Minutes

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.

* * * * *

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.