Daily Gold News: Wednesday, Oct. 20 – Gold’s Sideways Trend
The gold futures contract gained 0.27% on Tuesday, as it extended its consolidation following its Friday’s decline of 1.7%. Last week gold bounced from the $1,800 price level. The market reacted to the better-than-expected economic news releases. This morning gold is trading closer to yesterday’s daily high, as we can see on the daily chart (the chart includes today’s intraday data):
Today gold is 0.7% higher, as it is trading within its yesterday’s daily price range. What about the other precious metals? Silver is 1.3% higher, platinum is 0.1% higher and palladium is 1.3% lower. So precious metals’ prices are higher this morning.
Yesterday’s Building Permits/ Housing Starts releases have been slightly worse than expected. Today we will have the Beige Book release at 2:00 p.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:
Wednesday, October 20
- 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
- 12:00 p.m. U.S. – FOMC Member Evans Speech
- 2:00 p.m. U.S. – Beige Book
Thursday, October 21
- 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims
- 10:00 a.m. U.S. – CB Leading Index m/m, Existing Home Sales
- 3:00 p.m. Australia – RBA Governor Lowe Speech
For a look at all of today’s economic events, check out our economic calendar.
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