Daily Gold News: Wednesday, Dec. 22 – Gold Remains Slightly Below $1,800 Level

The gold futures contract lost 0.33% on Tuesday, as it retraced some more of the recent advance and a breakout above the $1,800 level after last Wednesday’s FOMC Monetary Policy release. It got back above the $1,800 level and on Friday it traded as high as $1,815. This morning the yellow metal is trading within its yesterday’s daily range, as we can see on the daily chart (the chart includes today’s intraday data):

Gold is 0.1% higher this morning, as it is trading below the $1,800 level. What about the other precious metals? Silver is 0.6% higher, platinum is 0.3% higher and palladium is 1.9% higher. So precious metals’ prices are higher this morning.

Today we will get the Final GDP and the CB Consumer Confidence releases. The markets will be waiting for the important tomorrow’s Core PCE Price Index release.

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

Wednesday, December 22

• 8:30 a.m. U.S. – Final GDP q/q, Final GDP Price Index q/q
• 10:00 a.m. U.S. – CB Consumer Confidence, Existing Home Sales
• Tentative, Japan – BOJ Governor Kuroda Speech

Thursday, December 23

• 8:30 a.m. U.S. – Core PCE Price Index m/m, Core Durable Goods Orders m/m, Durable Goods Orders m/m, Personal Income m/m, Personal Spending m/m, Unemployment Claims
• 8:30 a.m. Canada – GDP m/m
• 10:00 a.m. U.S. – New Home Sales, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations

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.