Daily Gold News: Uncertainty Following Gold’s Rebound

The gold futures contract gained 0.18% on Tuesday, as it fluctuated following short-term rebound from Thursday’s local low of $1,784.60. Last week 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. This week gold is bouncing back higher, as we can see on the daily chart ( the chart includes today’s intraday data ):

Gold is 0.3% higher this morning, as it is trading within a short-term consolidation. What about the other precious metals? Silver lost 0.63% on Tuesday and today it is 0.3% higher. Platinum gained 1.63% and today it’s 3.4% higher. Palladium lost 0.69% and today it’s 0.5% higher. So precious metals are slightly higher this morning.

The markets will be waiting for today’s Fed Chair Powell Speech. We will also have Consumer Price Index and Wholesale Inventories releases.

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

Wednesday, February 10

• 8:30 a.m. U.S. – CPI m/m, Core CPI m/m
• 10:00 a.m. U.S. – Final Wholesale Inventories m/m
• 2:00 p.m. U.S. – Fed Chair Powell Speech
• All Day, Japan – Bank Holiday
• All Day, China – Bank Holiday

Thursday, February 11

• 5:00 a.m. Eurozone – EU Economic Forecasts
• 8:30 a.m. U.S. – Unemployment Claims
• Tentative, U.S. – Fed Monetary Policy Report
• All Day, China – Bank Holiday

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.
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