Daily Gold News: Thursday, August 11 – Gold Price Remains Above $1,800

Gold Price Recap

The gold futures contract gained 0.08% on Wednesday, August 10, as it continued to fluctuate above the $1,800 price level. The market reached new local high of $1,824.60 following lower-than-expected Consumer Price Index release, but it closed virtually flat. This morning gold is trading slightly lower, as we can see on the daily chart (the chart includes today’s intraday data):

Precious Metals Price Action

Gold is 0.1% lower this morning, as it is still trading along the $1,800 level. What about the other precious metals? Silver is 0.3% lower, platinum is 1.5% higher and palladium is 0.5% higher. So the main precious metals’ prices are slightly lower this morning.

Fundamentals and Economic News Schedule

Yesterday’s important CPI release has been lower than expected at 0.0% vs. +0.2% m/m. Today we will get the Producer Price Index and Unemployment Claims releases at 8:30 a.m.

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

Thursday, August 11

• 8:30 a.m. U.S. – PPI m/m, Core PPI m/m, Unemployment Claims
• 1:01 p.m. U.S. – 30-y Bond Auction

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

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

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