Daily Gold News: Wednesday, Sep. 15 – No Big Changes, Gold at $1,800

The gold futures contract gained 0.71% on Tuesday as it continued to fluctuate within a short-term consolidation following last week’s Tuesday’s decline of almost 2%. The yellow metal has retraced all of its recent advance and it fell back below the $1,800 price level. It reacted to the strengthening U.S. dollar, among other factors. This morning gold is trading above the price level of $1,800, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is 0.1% lower, as it is trading along the yesterday’s closing price. What about the other precious metals? Silver is 0.3% lower, platinum is 0.1% higher and palladium is 2.6% higher. So precious metals’ prices are mixed this morning.

Yesterday’s Consumer Price Index release has been slightly lower than expected at +0.3% m/m and the Core CPI has been at only +0.1% m/m vs. the expected +0.3% m/m. Today we will get the Empire State Manufacturing Index and Industrial Production releases. The markets will be waiting for tomorrow’s Retail Sales number release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for today:

Wednesday, September 15

• 8:30 a.m. U.S. – Empire State Manufacturing Index, Import Prices m/m
• 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y, Core CPI m/m
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, September 16

• 8:00 a.m. Eurozone – ECB President Lagarde Speech
• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Philly Fed Manufacturing Index
• 10:00 a.m. U.S. – Business Inventories m/m

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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