Daily Gold News: Wenesday, Apr. 13 – Gold Price Gets Closer to the $2,000 Level Again

Gold Price Recap

The gold futures contract gained 1.43% on Tuesday, Apr. 12, as it accelerated its short-term uptrend after breaking above the $1,950 price level. The yellow metal’s price was the highest since mid-March on worries about inflation and Russia-Ukraine conflict. This morning gold is trading along the short-term local high, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.7% higher this morning, as it is getting closer to the $2,000 level. What about the other precious metals? Silver is 1.6% higher, platinum is 2.1% higher and palladium is 3.3% higher. So the main precious metals’ prices are higher this morning.

Gold Fundamental Analysis and Economic News Schedule

Yesterday Consumer Price Index release has been as expected at +1.2%. Today we will get the Producer Price Index release at 8:30 a.m.

The markets will continue to react to the ongoing Russia-Ukraine war news.

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

Wednesday, April 13

• 2:15 a.m. Japan – BOJ Governor Kuroda Speech
• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m
• 10:00 a.m. Canada – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate
• 11:00 a.m. Canada – BOC Press Conference
• 1:01 p.m. U.S – 30-y Bond Auction
• 9:30 p.m. Australia – Employment Change, Unemployment Rate

Thursday, April 14

• 7:45 a.m. Eurozone – Main Refinancing Rate, Monetary Policy Statement
• 8:30 a.m. U.S. – Retail Sales m/m, Core Retail Sales m/m, Unemployment Claims, Import Prices m/m
• 8:30m a.m. Eurozone – ECB Press Conference
• 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations, Business Inventories m/m
• 3:50 p.m. U.S. – FOMC Member Mester Speech
• All Day, Australia – Bank Holiday

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.

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