Daily Gold News: Friday, August 12 – Gold Price Consolidating After Inflation Data
Gold Price Recap
The gold futures contract lost 0.36% on Thursday, August 11, as it extended a short-term consolidation along the $1,800 price level. On Wednesday the market reached new local high of $1,824.60 following lower-than-expected Consumer Price Index release, but since then it was slowly retracing the recent advance. This morning gold is trading close to the $1,800 level, as we can see on the daily chart (the chart includes today’s intraday data):
Fundamentals and Economic News Schedule
Yesterday’s Producer Price Index release has been lower than expected at -0.5% vs. +0.2% m/m. Today we will get the Michigan Consumer Sentiment number release at 10:00 a.m.
Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days.
Friday, August 12
- 2:00 a.m. U.K. – GDP m/m, Preliminary GDP q/q
- 8:30 a.m. U.S. – Import Prices m/m
- 10:00 a.m. U.S. – Preliminary UoM Consumer Sentiment, Preliminary UoM Inflation Expectations
Monday, August 15
- 8:30 a.m. U.S. – Empire State Manufacturing Index
- 10:00 a.m. U.S. – NAHB Housing Market Index
- 4:00 p.m. U.S. – TIC Long-Term Purchases
- 9:30 p.m. Australia – Monetary Policy Meeting Minutes
- All Day, Eurozone – French Bank Holiday, Italian Bank Holiday
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