Daily Gold News: Monday, August 15 – Gold Trades Below $1,800 Again

Gold Price Recap

The gold futures contract gained 0.46% on Friday, August 12, as it continued to fluctuate following the recent advances. On Wednesday the market reached new local high of $1,824.60 following lower-than-expected Consumer Price Index release. This morning gold is breaking below its short-term local lows, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 1.5% lower this morning, as it is trading below the $1,800 level again. What about the other precious metals? Silver is also 2.8% lower, platinum is 3.1% lower and palladium is 2.5% lower. So the main precious metals’ prices are lower this morning.

Fundamentals and Economic News Schedule

Friday’s Michigan Consumer Sentiment number release has been better than expected at 55.1. Today we will get the Empire State Manufacturing Index and NAHB Housing Market Index releases.

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

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

Tuesday, August 16

• 5:00 a.m. Eurozone – German ZEW Economic Sentiment
• 8:30 a.m. U.S. – Building Permits, Housing Starts
• 8:30 a.m. Canada – CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y
• 9:15 a.m. U.S. – Industrial Production m/m, Capacity Utilization Rate
• 9:30 p.m. Australia – Wage Price Index q/q

Paul Rejczak
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.

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